VanMoof raises another $128M to become ‘most funded e-bike company in the world’

VanMoof S3 e-bike in Amsterdam | Photo by Thomas Ricker / The Verge

VanMoof just raised another $128 million in funding, after announcing a $40 million investment round in September 2020. That brings Amsterdam-based VanMoof’s total haul to $182 million raised in the last two years, excluding crowdfunding rounds in 2018 and 2019, making it “the most funded e-bike company in the world,” according to VanMoof.

The company claims to have almost 200,000 bikes on the road currently, with the goal of getting 10 million people on VanMoof e-bikes in the next five years. Such aggressive expansion goals require significant capital.

Improve the quality and reliability of the bike

VanMoof’s new funding round has been earmarked to expand production and to “reinvent the way in which hardware and software components are...