Dutch city bike builder Van Moof has raised €2.5m through crowdfunding, on top of a €4m capital injection from venture capital group Slingshot.
More than one thousand people put money into the company, which had been looking to raise at least €1m.
‘The faith shown in us by Slingshot and all the fans who have invested in us means we can take the next stop in our international growth,’ founder Taco Carlier said in a website statement. The cash will be used to increase production, research new technology and open bigger stores.
The company was set up in 2009 by two brothers and now has shops in Amsterdam, Tokyo, Berlin, Taipei and New York. Its bikes are known for their sleek, simple designs and use of technology, including touch locks and anti-theft devices.
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