Amsterdam-based startup VanMoof has raised a $128 million Series C funding round. The company designs and sells electric bikes that are quite popular in some markets. It now wants to become the world’s leading e-bike brand by iterating at a faster pace.
Asia-based private equity firm Hillhouse Investment is leading the round, with Gillian Tans, the former CEO of Booking.com, also participating. Some existing investors also put some more money on the table, such as Norwest Venture Partners, Felix Capital, Balderton Capital and TriplePoint Capital.
Today’s Series C represents a big jump compared to the company’s Series B. Last year, VanMoof raised a $40 million Series B. Overall, if you add it all up, the startup has raised $182 million in total.
If you’re not familiar with VanMoof’s e-bikes, TechCrunch reviewed both the most recent S3 and X3 models. On paper, they are identical. The VanMoof X3 features a smaller frame and smaller wheels.
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