Netherlands-based e-bike manufacturer VanMoof has raised £30m ($37.7m) in its series B round taking its total funding to £55m.
In May, VanMoof received $13.5m in a round featuring electronics manufacturer Sinbon Electronics, its strategic bike assembly partner, and venture capital firm Balderton Capital.
Balderton along with VC peers Felix Capital and Norwest Venture Partners, which has bank Wells Fargo as its main limited partner, provided the additional capital.
The company previously secured a $2.8m convertible note in July 2019 through crowdlending service One Planet Crowd, having already pulled in $4.7m from venture capital firm Slingshot in 2017.
Founded in 2008, VanMoof supplies e-bikes which can be propelled by electricity or manual pedalling and which the company believes to be a fitting mode of urban transport as cities emerge from coronavirus-associated lockdown.
The new capital will expand its manufacturing and expansion into the US and Germany as well as customer services.
