VanMoof, a Dutch e-bike brand, raised $40m in Series B funding.
Backers in the round, which brought total funding raised to date to €61.1m/$73m, included Norwest Venture Partners, Felix Capital and Balderton Capital.
The company intends to use the funds for further global expansion in North America, Europe and Japan and to build a suite of rider service solutions.
Founded in 2009 by Taco and Ties Carlier, VanMoof is a maker of the S3 & X3 e-bikes which feature an updated motor, automatic electronic gear shifting, and integrated anti-theft tech.
The company’s brand stores can be found in Amsterdam, Berlin, London, New York, Paris, San Francisco, Seattle, Taipei, and Tokyo, with riders across the globe buying online. Operating as a fully integrated end-to-end company, VanMoof takes complete ownership of everything from design to production, from sales to after-service.