VanMoof has raised €12.5 million from Balderton Capital and Sinbon Electronics.

VanMoof, an Amsterdam, Netherlands-based e-bike manufacturer, announced that it raised a €12.5 million ($13.7M) investment round.

The money was provided by investors including Balderton Capital and Sinbon Electronics and will be used used for VanMoof's international expansion.

VanMoof, founded in 2009 by Taco and Ties Carlier, recently launched two new city bikes, VanMoof S3 and X3, which have topped 10,000 sales worldwide and on track o pass the projected annual revenue goal of €100 million.