Dutch e-bike scaleup Vanmoof seems to be riding with the wind at its back. The Amsterdam-based scaleup has just announced that it received 12.5 million euros in new investment. This injection of funds comes from European venture capital firm Balderton Capital and assembly partner Sinbon Electronics from Taiwan. The cash infusion will be used to support the brand as it aims to expand internationally, following the successful European launch of its S3 and X3 bikes.
Since its early days of crowdfunding success (link in Dutch), Vanmoof has seen demand for e-bikes skyrocket. Under the current times of corona and social-distancing precautions, e-bikes are seen as a safe and dependable option for mobility over longer distances, especially compared to public transit. While many companies struggle to ensure supply chains, the e-bike builder remains protected. Thanks to its partnership with Sinbon, Vanmoof has effectively been able to take control of its entire supply chain, giving the company security. This coupled with an ultra-efficient manufacturing and distribution approach, as well as its direct-to-customer sales model, the scaleup is offering its newest S3 and X3 models with improved performance and technology at only 60 percent of its previous releases.