VCs have backed a trendy Dutch e-bike start-up as demand accelerates

VanMoof cofounder Taco Carlier riding one of the company’s e-bikes.

VanMoof

LONDON – As the pandemic forces people to rethink how they get from A to B, venture capitalists are looking to capitalize on companies offering new forms of transport.

VCs from Norwest Venture Partners, Felix Capital and Balderton Capital announced Wednesday that they had backed Dutch e-bike VanMoof with $40 million, just a few months after the company raised $13.5 million from tech investors.

Amsterdam-headquartered VanMoof, which has raised $73 million in total, said it will use the Series B funding to the further capitalize on a worldwide e-bike boom that has been fuelled by the coronavirus.

“E-bike adoption was an inevitable global shift that was already taking place for many years now but Covid-19 put an absolute turbo on it to the point that we’re approaching a critical mass to transform cities for the better,” said Ties Carlier,

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