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

Amsterdam-based startup VanMoof has recently raised a $128 contenance Series C funding game. The company designs and delivers results electric bikes that are has grown to become in some markets. It recently wants to become the world’s significant e-bike brand by iterating at a faster pace.

Asia-based private equity firm Hillhouse Money is leading the surrounding, with Gillian Tans , the former CEO of Booking. através de, also participating. Some provide investors also put some an abundance of funds on the table, such as Norwest Undertaking Partners, Felix Capital, Balderton Capital and TriplePoint Prime city.

Today’s Fertility cycles C represents a big rise compared to the company’s Series T. Last year, VanMoof raised a $40 million Material B. Overall, if you contain it all up, the login has raised $182 mil in total.

If you’re not familiar with VanMoof’s e-bikes, TechCrunch reviewed both the most recent S3 and X3 models. On paper, they are similar. The VanMoof X3 comes with a smaller frame and little wheels.

What makes VanMoof beyond your average e-bike supplier is that the company tries to verificare everything from the supply chain to the consumer experience. VanMoof e-bikes have proven to be premium e-bikes that are totally designed for city rides. The latest models currently cost $2, 298 or €2, 198.

They feature a motor paired with an electronic gear shifting system. It has four equipment and you don’t have to change dive yourself. All you have to do definitely is jump on the bike be noticed pedaling.

Identifiable by their iconic triangular-shaped futuristic-looking frames, the S3 but also X3 also come with hydraulic brakes, integrated lights many smart features. There’s a motion detector combined with a great alarm, a GPS nick and cellular connectivity.

If you declare your ultimate bike as stolen, the main GPS and cellular processor chips go live and you can track your incredible bike in the VanMoof instance. The company’s bikes at the moment are also compatible with Apple’s Find A detailed app .

Instead of relying exclusively not to mention off-the-shelf parts, the company is made for a small set of suppliers of manufacture custom components. In this approach, it can cut out as many middleperson as possible to bring costs depressed. It’s also a good affordable advantage.

Climbing a company like VanMoof might be capital-intensive business. The company had opened retail stores and site hubs in 50 uncommon cities around the world. While the service provider} started in Europe, the United. S. is now the speediest growth market for VanMoof.

With today’s funding round, the boot up plans to double-down attached to its current strategy. You will probably updated bikes with rubbed designs and more custom broken parts. You can expect more stores then service hubs around the world. And possibly probably expect more online sales as well.

“It will help us take advantage of 10 million people on our bikes in the next five a number of, ” co-founder and PRESIDENT Taco Carlier said dished up statement. So far, there are 100, 000 people using VanMoof bikes.

Our present investment shouldn’t come as a surprise. I would say the coronavirus pandemic has faster plans to transform European towns and cities — and prioritize bikes for children over cars. Last year, TechCrunch’s Natasha Lomas and I gave them a comprehensive overview of key policy general trends in four major municipalities — Paris, Barcelona, M25 and Milan. VanMoof has grown to be benefiting from these policy movement.

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