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Dutch company finds success in crowdfunding with its new e-bikes

The company VanMoof started with crowdfunding and a small venture capitalist, and in doing so it got the first $6.57 million (€6 million) for its new e-bikes. Both models, VanMoof S3 and VanMoof X3 are currently only available in a single frame size. In order to be able to continue the growth, further venture capital financing of $13.1 million (€12 million) was recently concluded.

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This picture show a bike.

The Dutch company VanMoof joins the fray of e-bikes. However, the Dutch startup differentiates itself from other companies with unique design and technical refinements. According to its own statement, the riding characteristics are not ignored. So this is what the future of e-bikes should look like?

If you want to find more details about the new e-bike launched by the dutch company VanMoof and its crowdfunding success, download the Born2Invest mobile app. Our team of journalists brings you the latest business news from around the world, for you to stay informed.

The two models created by VanMoof at a glance

The Dutch startup currently has two quite similar, but different models in its portfolio. The difference lies in the field of application, which is reflected in the frame construction.

The VanMoof S3 is a city bike suitable for everyday use. With its sporty geometry, it is the ideal e-bike for daily commuting, the trip to the ice cream parlor, or the Sunday tour through town and country.

VanMoof S3 and VanMoof X3

The VanMoof X3 is somewhat more flexible. With an additional and very stylish front luggage rack, it can also be quickly used for shopping.

Both models are currently only available in single frame size. The S3 is suitable for people between 170cm and 200cm tall and the X3 for people between 155cm and 200cm. So there should be something suitable for almost every height.

Technical refinements of the VanMoof e-bikes

Technically, the Amsterdam engineers have come up with a lot of ideas to create a “smart” bike. The display is integrated into the top tube and shows all important information via a dot-matrix display. This includes battery status, speed and whether the bike is in locked condition.

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The new e-bikes can be locked easily via the Kick-Lock system. For this purpose, a small button is located near the rear wheel hub. With a simple kick the motor is locked, GPS tracking is activated and the bike can be parked easily, quickly and above all safely.

The system can be unlocked easily with a smartphone. Once you have the paired smartphone on your body, the lock mode is automatically canceled. Of course, the e-bike can also be unlocked with an emergency pin via the display on the top tube.

The Smartphone app can also be used to configure the support modes and view all system statuses.

All riding information in the Smartphone App

The TurboBoost button on the steering wheel provides the necessary thrust. This allows additional power to be activated immediately. The drive, electronic transmission and battery are constantly monitored by smart sensors in order to constantly optimise the range.

Huge success in crowdfunding

The Amsterdamers started with crowdfunding and a small venture capitalist, and in doing so they got their first $6.57 million (€6 million). That’s how the success of the e-bike company began. The founders see the company more like a tech company, with Tesla as a role model. This is also reflected in its employee base. Half of the 180 employees working in the Amsterdam headquarters alone are software developers.

The success definitely proves them right. The turnover has quadrupled to about $43.7 million (€40 million) and is already 20% above plan in 2020. In order to be able to continue the growth, further venture capital financing of $13.1 million (€12 million) was recently concluded. All figures speak for themselves that VanMoof is able to establish itself among all the top performers and thus enrich the e-bike market.

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(Featured image by uveX via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

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First published in velomotion, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.