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The Tesla of bicycles has the same cult following and the same problems
Live MintThe pandemic has been kind to Dutch electric-bicycle company VanMoof BV. VanMoof concedes that the last few months haven’t been without challenges, with founder Taco Carlier calling the experience the “perfect storm.” But Carlier said it’s a normal transition for any business introducing cutting-edge hardware, and that the company is tackling the problems. “Anything new, whether it’s software or hardware, has to grow to maturity,” said Michael Lucassen, a partner at venture-capital firm Tiin Capital in Naarden, the Netherlands, whose company hasn’t invested in VanMoof. That’s quite a lot you have to get right.” Tough Training Lockdown was a complicating factor because instructing new staff at home created its own set of challenges, Carlier said. Applying the required fixes doesn’t come cheap, which is why VanMoof secured $40 million in fresh financing from Norwest Venture Partners, Felix Capital and Balderton Capital, exceeding its original target of $25 million.
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VanMoof begins selling bicycles online again after a restart
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