VanMoof raises $13.5M to capitalize on e-bike boom in wake of COVID-19 – TechCrunch

VanMoof raises $13.5M to capitalize on e-bike boom in wake of COVID-19 – TechCrunch

Weinmoff, a Dutch e-bike startup that started in 2009, is now in London to attract an investment of 12.5M / .5 13.5M from VC Bilderton Capital and SINBON Electronics, a Taiwan-based electronics company. After officially “scale up”. Motorcycle assembly partner.

The funds will be used for international expansion, following the launch of the new Electric VanMoff S3 and X3 bikes.

The announcement came at the right time. COVID-19 Outbreaks appear to be exacerbated during recent epidemics across Europe, and European governments are struggling to keep their economies afloat. But most government advice is to avoid public transport where possible, as social distance is almost impossible.

Cycling is a viable option in many cities, but distance is still the old adversary, many consumers are looking for e-bikes as a displacement solution, compared to traditional bikes, which e-bike to ride. Can’t compete with More than usual

To boost take-up, the UK government has released a 2 billion package to create a new era for cycling and walking, leading to a 17% rise in shares of motorcycle retailer Halford on Monday. ۔

In the United States, New York City has promised to add only motorcycle lanes in Manhattan and Brooklyn. Berlin is expanding its already extensive motorcycle lane. And Milan will introduce five-mile cycle lanes to reduce car usage after the lockdown. New York City has seen a 50% increase in cycling compared to last year. Cycling in Philadelphia has increased by more than 150% during the COVID-19 outbreak.

Weinmov’s co-founder, Taco Carlier, said in a statement: “This is a unique time for such a meaningful partnership. Not only do we appreciate this vote of confidence from deep-sector experienced investors, but It’s a great sign that investment is turning green, moving away from fossil fuels and towards e-mobility. “

Colder Hanna, principal of Balderton, said: “Vanmoff develops a category of products in a fast-growing market that is making the world a better place. Will make a household name as far as Berlin.

Vanmov recently launched the S3 and X3 models, which are upgraded from previous models, at significantly cheaper prices. The price reflects the fact that Wenmoff has gained complete control of the supply chain through a partnership with SINBON, which connects consumers directly to the sales model, which means that they range from design to Takes full ownership of everything from production to sales. After service.

Furthermore, in the last two years, the company has quadrupled its revenue of 10 million revenue in 2019 to 2018, with more than 20% sales in 2020 so far, which means that annual revenue The goal is 100m.

The new high-performance electric VanMoof S3 and X3 have a new range of features, including electronic four-speed gear shifting, integrated hydraulic brakes, and double turbo boost power.

But Venmov is not the only VC-supported e-bike in the market. The Brussels-based Cowboys is an e-bike startup that was only published in 2017 but has since raised ڈالر 19.5 million from Tiger Global and London-based Index Ventures.

While it is a tragedy that it has contracted a deadly epidemic to kick this market, the clean and healthy, motorcyclists of our cities appear to be on the horizon with the prospect of improvement. Is.

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