Vässla, a Swedish micro-mobility startup offering e-bikes and e-mopeds, has raised $11 million.
The investment was led by Skabholmen Invest and also involved a number of Nordic-based entrepreneurs.
The startup plans to use the funds to launch a Vässla Club rental platform offering subscription and rental services to consumers, delivery drivers and businesses via an app.
Vässla recently launched its bike which is a hybrid of an e-bike and an e-moped.
It plans to bring the bike to a number of European cities including Berlin, Hamburg, Madrid and Vienna as well as the U.K. once new legislation on e-scooters is finalized.
Vässla says different countries classify e-bikes and e-mopeds differently but that it wants to “earn, claim and own this emerging category between the e-bike and e-moped.”
Rickard Bröms, founder and CEO, says: “The problem with electric pedal bikes is that your morning commute becomes a workout session – you arrive at work or at your important meeting sweaty and tired. It’s really no better than using packed trains or buses.”
“With Vässla, our e-moped solved a problem for the upper range of short trips, but wasn’t that optimal for the lower range. Now, with Vässla Bike, we’re fulfilling our vision to provide customers with a micro mobility vehicle which is lighter, sleeker and ideal for the thousands of short trips made every day.”
Wilhelm Pettersson, CEO at Skabholmen Invest, believes personal cars won’t have a place in urban planning down the road with micro mobility set to “change cities and transform urban living for good.”