Home Health Another 128 million dollars for VanMoof, one of the most funded e-bike companies in the world

Another 128 million dollars for VanMoof, one of the most funded e-bike companies in the world

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Investors are betting on electric bikes and they do so by betting on one of the most advanced companies in the sector: VanMoof. The brand created in 2009 by the brothers Taco en Ties Carlier, based in Amsterdam, raised a loan of 148 million dollars, after the 40 million dollars collected in September 2020. Over the past two years, VanMoof has received investments totaling $ 182 million. A figure that would make it, according to its press release, “the most funded e-bike company in the world”.

VanMoof, which claims to have sold 200,000 electric bikes so far, is aiming to conquer 10 million customers over the next five years. A goal that, according to the data concerning e-bikes in Europe and in the world, does not appear so ambitious.

In 2019, the electric bike market was worth around $ 15.42 million, with an annual growth forecast of 7.49% between 2020 and 2025 (ebicycles.com data). An estimate that had not taken into account the Covid-19 pandemic, the multiple lockdowns and the new (or renewed) desire to move on two wheels. In fact, in Europe alone, in 2020, the sale of e-bikes grew by as much as 52% compared to the previous year (Conebi data). More generally the global electric bike market is expected to reach a value of $ 48 million in 2028 (globenewswire.com data): double what was estimated before the spread of the new coronavirus.

VanMoof co-founder Taco Carlier told The Verge – commenting on the round of massive investments – that much of the money will be spent on research and development. The brand announced during the last South by Southwest that it intends to expand its presence in the world, going from the 8 current brand stores to a total of 50 stores (between brand stores and authorized points of sale). Of the 50 cities chosen by VanMoof and scattered across the US, Europe and Japan, none are found in Italy.

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The latest electric bikes marketed by VanMoof are the S3 and X3, which compared to previous models have also hit for a much lower price: both are sold online for 2198 euros.

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