Dutch e-bike company VanMoo has completed a $40 million Series B financing round
Dutch electric bike company VanMoof has completed a $40 million Series B financing round, CNN reported.
VanMoof said the new money would be used to increase market share for electric bikes in North America, Europe and Japan.VanMoof had planned to raise $25 million, but investor interest was higher than expected, VanMoof Chief Executive Officer Carlier said.
Carlier says it has built status devices into its e-bike design and organized a team of "bike hunters," and 75 percent of lost bikes can be recovered.As for e-bikes, a director of VanMoof also said in an interview that it will take 5-10 years for them to enter the mainstream.Data shows that the market size of electric bicycles is expected to exceed 46 billion dollars in the next six years.
VanMoof recently launched the VanMoof S3 and X3 electric bike design this year, both priced over 10,000 yuan.