Vässla, the Swedish micro mobility startup that produces e-bikes and e-mopeds, today announces that it has raised €9 million in a recent funding round, backed by several investment companies, high-net-worth individuals, and family offices.
The funding was led by Swedish investment group, Skabholmen Invest, which has backed companies including nautical clothing brand Henri-Lloyd and leading digital signage company, Zeta Display. Also contributing to the funding is a number of high profile Nordic-based entrepreneurs and finance profiles. Among them are Magnus Wiberg and Patrik Hedelin who founded the growth capital firm eEquity.
Following the successful launch of its e-moped, the Vässla Moped, the company plans to utilise the funding to launch its Vässla Club rental platform. This will be a tailor-made micro mobility solution creating a seamless mobility experience for people, delivery drivers, and businesses. The platform will be provided via the Vässla Club sharing app, which has fleet management capabilities, and users can gain access to Vässla bikes. It offers the best mobility solution at low cost, added employee satisfaction and helps companies and individuals contribute to more sustainable behaviour.
The platform will have three separate offerings including: Vässla Club for People (monthly subscription service for end users); Vässla Club for Delivery (a weekly subscription service for delivery drivers); and Vässla Club for Enterprises (hourly rental service for hotels, resorts, campsites etc.).
The funding comes at a crucial point for Vässla, with its recently-released Vässla Bike bringing a new era of micro mobility to the streets of Scandinavia, with pilot schemes planned for several major European cities including Berlin, Vienna, Hamburg, and Madrid. The company also plans to expand into the booming micro mobility market in the UK at a later date, pending government legislation on e-scooters which is due to be revealed in early 2022.
The Vässla Bike aims to earn, claim and own this emerging category between the e-bike and the e-moped, which Vässla believes has the potential to grow to the same size as the e-bike category. The startup states that there is inconsistency between countries and their respective governments about the categorisations within the micro mobility sector, meaning that its e-mopeds and e-bikes are classified differently from country-to-country. Vässla is passionate about finding a solution to this problem.
Vässla Bikes have a 250 – 450W rear hub motor, a maximum speed of 20-25 km/h, a battery range of 40km, and a total weight of 21.5kg excluding the portable battery, which weighs 3.5kg and they designed themselves.
While the micromobility sector is rapidly expanding throughout the world, and is expected to continue growing by 17% on a global scale year-on-year until 2024, Vässla looks to capitalise on a unique gap in the market. How will it revolutionise customer perceptions of e-transport? By hybridising an electric moped, e-bike and e-scooter into a stylish, eco-friendly bike for easy commuting and short trips – something which has been a long-term goal for CEO & Founder Rickard Bröms.
“I originally started Vässla with the intention of producing an e-moped, combining a reduced commute time with the environmental friendliness of an e-bike, but with comfort and convenience prioritised”, CEO & Founder Rickard Bröms commented. “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. The investment, which will help us launch Vässla Club, and expand into other territories, comes at a very exciting time and we are very much looking forward to seeing how the attitudes of the general public towards micro mobility will change over the next few years.”
Wilhelm Pettersson, CEO Skabholmen Invest, commented: “We truly believe that the future of urban planning will exclude personal cars. Micro mobility will change cities and transform urban living for good. Vässla is the shining star in this sector and that’s why we chose to lead this funding round.”