Dance, a Berlin-based -ebike subscription company, has raised an additional €16.5 million in funding and has rolled out its first-generation e-bike and repair service, the company reported via a press release.
The funding will be used to scale the business, including doubling the Dance team to add more operations, engineering and sustainability-focused team members, the company stated. Dance will also launch in additional markets in Europe through 2022.
Global investment firm Eurazeo has joined HV Capital and BlueYard as investors, alongside additional angel investors.
“At Eurazeo, one of our priorities is supporting investments that directly support the decarbonization of the planet by 2040, and investing in a product and service like Dance is aligned with that mission,” said Matthieu Bonamy, partner at Eurazeo. “Across the globe, we have an opportunity to transform cities for the better, and by scaling easy-to-use, holistic and sophisticated approaches like Dance, we can incentivize more people to consistently choose cleaner commutes, while sparking change within their own communities.”
"We are excited to welcome Eurazeo and additional angel investors to the Dance movement, which is focused on creating more sustainable cities," said Eric Quidenus-Wahlforss, cofounder and CEO of Dance. "As Paris, Milan, Brussels and others make significant investments in cycling infrastructure, there is an incredible opportunity to transform the way society commutes at the citizen level," he added.