VanMoof raises £30 million series B investment from Norwest Venture Partners, Felix Capital and Balderton Capital.

VanMoof, an Amsterdam, The Netherlands-based electric bikes manufacturer, announced the completion of a £30 million ($38.8M) series B investment round.

The funding was provided by investors including Norwest Venture Partners, Felix Capital and Balderton Capital and will be used to help VanMoof's efforts for global expansion in North America, Europe and Japan.  The company also says that a significant portion of the funding will go towards building a suite of rider service solutions, making best-in-class support one of VanMoof’s key pillars.

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

Prior to this round, VanMoof raised a total of £25 million, with a £10 million investment announced in May 2020.