VanMoof raised a $128 million Series C funding round led by Hillhouse Investment.

VanMoof, an Amsterdam, The Netherlands-based electric bikes manufacturer, announced the completion of a $128 million Series C funding round.

The money was raised from investors led by China-based Hillhouse Investment, joined by Norwest Venture Partners, Felix Capital, Balderton Capital and TriplePoint Capital. Notably, Gillian Tans, the former CEO of Booking.com, contributed also to the round.

VanMoof was founded in 2009 by Taco and Ties Carlier, two Dutch brothers with a vision of the perfect city bike. The company operates brands such as S3 & X3, advanced electric bikes including features such as antitheft systems, intelligent motor and automatic electronic gear shifting. VanMoof is operating as a fully integrated end-to-end company, taking complete ownership of everything from design to production, from sales to after-service, and is avalable online or in physical stores from Amsterdam, Berlin, London, New York, Paris, San Francisco, Seattle, Taipei, and Tokyo.

VanMoof previously announed series B at $39 million in 2020.