The company is building a subscription service for its micromobility vehicle, which is a cross between a moped and a traditional e-bike.
Vässla, a Swedish micromobility start-up, has raised $11m in fresh funds to expand during the increasing demand for e-bikes.
The Stockholm-based company initially launched with e-mopeds and is now launching an e-bike with a club-like subscription model.
Vässla Club will target individuals, delivery drivers and businesses like hotels and holiday resorts with a subscription model to access its e-bikes with fleet management features built in for businesses.
The round of funding was led by Swedish investment firm Skabholmen Invest with eEquity contributing to the round.
The company is running trials in the Scandinavian market with further trials pencilled in for Berlin, Vienna, Hamburg and Madrid. It is also planning a UK launch once legislation around e-scooter and other electric micromobility vehicles has been introduced beyond the current trial stages across the country.
Vässla designed its bikes in-house and describes it as a midway point between a moped and an electric scooter. It has a maximum speed of 25km/hr and battery range of 40km.
The company was founded by chief executive Rickard Bröms over his frustration with commuting and a mission to reduce dependency on privately owned cars.
“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,” Bröms said.
The new iteration of its bike is lighter but capable of multiple trips a day, he added.
“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 micromobility will change over the next few years.”
Wilhelm Pettersson, CEO of lead investor Skabholmen Invest, said that it invested in the company as it believes the “future of urban planning will exclude personal cars”.