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Wednesday, June 29, 2022

Estonian cargo-bike maker Vok Bikes raises 800,000 euros

Vok Bikes has closed a round of 800,000 euros from United Angels VC, Superangel and regional business angels for manufacturing of the next 100 vehicles and the expansion to a couple of major European cities within the next 12 months.

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“Given that it’s way more economical than a car but still offers stability, safety and comfort, Vok really is a great go-between cars and bicycles. In addition,  a capacious cargo compartment and a maximum speed of 25km/h are perfect for swift urban deliveries,” Vok Bikes co-founder and CEO Indrek Petjärv said in a statement.

Vok Bikes said its first delivery bikes have hit the streets of its home town Tallinn. Its first clients include Lithuanian courier service provider Ziticity currently rapidly expanding in France, Finnish food delivery company Wolt covering over 100 cities mostly in Europe and Japan, Estonian e-scooter producer and fleet operator Tuul by Comodule, and Estonian local national postal service provider Eesti Post.

“We see Vok Bikes as a valuable partner in finding ways to have low carbon-emitting fleets operating in the cities,” said Laimonas Noreika, CEO and co-founder of Ziticity.

Gerri Kodres, founding partner of United Angels VC said:”We believe Vok’s team is capable of changing the way goods and people move in the city. Through our long-term commitment to the mobility field and our experience as being the early investors in Bolt, Comodule and Starship, we are happy to help the team to achieve their goals.”

Vok Bikes, founded in 2019 by former student formula racing activists Indrek Petjärv, Siim Starke and Riho Koop, is a producer of electricity powered cargo-bikes. Vok bikes are all manufactured and assembled in Estonia.

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Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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