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Dance e-bike subscription service completes Collection A value $ 17.7 million, led by HV Holtzbrinck Ventures

Three months later since the former founders of SoundCloud Dance today launched its e-bike subscription service and announces the completion of a Series A financing round of $ 17.7 million (EUR 15 million) from one of Europe's larger VCs, HV Holtzbrinck Ventures, is directed.

Founded by Eric Quidenus-Wahlforss (Ex-Soundcloud), Alexander Ljung (Ex-Soundcloud) and Christian Springub (Ex-Jimdo), Dance has ambitions to bring its all-inclusive service subscription package to expanded markets across Europe and eventually the US. Dance currently operates the invitation-only pilot of its e-bike subscription in Berlin. with plans for wider rollout, expanded accessibility and availability, and new cities in the next year.

Rainer Märkle, general partner at HV Holtzbrinck Ventures, said in a statement: “The mobility market is experiencing an enormous shift towards bicycles, which is strongly driven by the paradigm shift in electric vehicles. Unfortunately, the majority of e-bikes on the market today have a combination of poor design, high upfront costs and cumbersome maintenance. We analyzed the entire mobility market, evaluated all modes of transport and spent a number of years working the numbers for all types of business models before we found what we were looking for. Dance is by far the most viable future of cycling and bridges the gap between owning e-bikes and being able to get to places more "happily". "

Buying e-bikes is usually notoriously expensive and repairs are tedious. Startups like VanMoof and cowboy brought an apple -esque business model to market that quickly lowers the cost of full ownership.

Most commuters are deterred from driving an average of 10 kilometers (6.2 miles), but e-bikes make this distance a breeze. Dance is halfway between owning an expensive bike and finding a rentable e-bike or electric scooter near you.

In addition, the COVID-19 pandemic has brought individual, socially distant transportation into sharp relief. E-bike sales in the UK were booming and demand rose 230% in the summer. It did so at the same time as EU governments laid more than 2,300 km of cycle paths, with the UK alone pledging £ 250 million investment.

Quidenus-Wahlforss said the startup has "been inundated with positive responses from around the world since we announced our pilot program by invitation only".

Dance's subscription model includes a fully assembled e-bike that is delivered to a subscriber's door within 24 hours. This includes maintenance, theft insurance, a special smartphone app, concierge services and GPS Location tracking and unlocking functions.

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