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VanMoof raises $128 million to become the world’s leading e-bike brand

Amsterdam-based startup VanMoof has raised a $128 million Series C funding round. The firm designs and sells electrical bicycles that are quite popular in some business. It now wants to become the world’s guiding e-bike brand by iterating at a faster pace.

Asia-based private equity firm Hillhouse Investment is leading the round, with Gillian Tans, the former CEO of Booking.com, also participating. Some existing investors too put some more coin on the table, such as Norwest Venture Partners, Felix Capital, Balderton Capital and TriplePoint Capital.

Today’s Series C represents a big jump compared to the company’s Series B. Last year, VanMoof raised a $40 million Series B. Overall, if you add it all up, the startup has raised $182 million in total.

If you’re not familiar with VanMoof’s e-bikes, TechCrunch examined both the most recent S3 and X3 poses. On paper, they are identical. The VanMoof X3 peculiarities a smaller enclose and smaller wheels.

VanMoof X3 e-bike evaluate: Transportation revelation

Review: Handsome and nippy, brand-new VanMoof e-bikes could be the shape of municipals to come

What draws VanMoof different from your median e-bike manufacturer is that the company tries to control everything from the afford order to the customer know. VanMoof e-bikes are premium e-bikes that are primarily designed for metropoli razzs. The most recent sits currently cost $2,298 or EUR2, 198.

They feature an electric motor paired with an electronic gear shifting plan. It has four paraphernaliums and you don’t have to change gears yourself. All you have to do is jump on the bicycle and start pedaling.

Recognizable by their iconic triangular-shaped futuristic-looking frames, the S3 and X3 likewise come with hydraulic brakes, integrated daybreaks and some smart aspects. There’s an integrated gesture detector combined with an alarm, a GPS chip and cellular connectivity.

If you declare your bike as stolen, the GPS and cellular microchips go live and you can track your motorcycle in the VanMoof app. The company’s bikes are now likewise compatible with Apple’s Find My app.

Instead of relying alone on off-the-shelf constituents, the company works with a small set of suppliers to construct tradition ingredients. This mode, it can cut out as numerous middleperson as is practicable to impart payments down. It’s likewise a good competitive advantage.

Growing a company like VanMoof is a capital-intensive business. The companionship has opened retail store and work centres in 50 different metropolis various regions of the world. While the company started in Europe, the U.S. is now the fastest growth market for VanMoof.

With today’s funding round, the startup plans to double-down on its current programme. You can expect modernized bikes with refined intends and more practice constituents. You can expect more supermarkets and work centres around the world. And you can probably expect more online marketings as well.

“It will help us get 10 million people on our motorcycles in the next five years, ” co-founder and CEO Taco Carlier said in a statement. So far, there are 150,000 beings use VanMoof bikes.

Today’s investment shouldn’t come as a surprise. The coronavirus pandemic has accelerated plans to transform European cities -- and prioritize motorcycles over automobiles. Last time, TechCrunch’s Natasha Lomas and I wrote a comprehensive overview of key policy developments in four major metropolis -- Paris, Barcelona, London and Milan. VanMoof is now benefiting from these policy shifts.

How four European metropolitans are hugging micromobility to drive off cars

Read more: feedproxy.google.com

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