E-bike subscription service DANCE secures €15M
As reported by EU-Startups, Berlin-based startup DANCE has closed a €15 million Series A investment round led by German VC firm Holtzbrinck Ventures, less than three months after rolling out a pilot of its e-bike rent program.
Founded by CEO Eric Quidenus-Wahlforss and Alexander Ljung (also co-founders of SoundCloud) and Christian Springub, DANCE is an e-bike subscription service where users pay a monthly fee that covers their bikes and provides an all-inclusive support package. The subscription includes a bike delivering to user’s door within 24 hours, maintenance, and theft replacement insurance.
“The goal of DANCE is to spark a global movement built on a connected community of passionate e-bike riders, ultimately making cities more bike-friendly and livable,” says Quidenus-Wahlforss.
DANCE is currently operating the invite-only pilot in Berlin, with plans for a broader launch, expanded accessibility and availability and new cities next year. E-bikes are managed with DANCE’s app, offering GPS location tracking and unlocking capabilities for worry-free ease of use.
“We’ve become inundated with positive responses from around the world since we announced our invite-only pilot program, and it’s become crystal clear just how much desire, demand and excitement there is for a service like DANCE across the world,” tells the CEO.
The company is planning to invest the secured funds in expanding markets across Europe and eventually the US, as well as in further research and development works.