Eurazeo is leading today’s funding round. HV Capital and Blue Yard are also investing, as are Offline Ventures’ Dave Morin and James Higa, Nicolas Berggruen, Roxanne Varza and Verena Pausder.
To be on the safe side, Dance has designed a unique electric bike called the Dance One. It features a carbon belt, hydraulic disc, integrated smartphone mount and removable battery with an estimated distance of 55km.
Customers do not buy bicycles directly. Instead, you can subscribe for € 79 per month (about $ 93 at today’s exchange rates). After that, it’s not a fuss experience. If there is another problem with a flat tire or bike, Dance will send a mechanic to request repairs.
There are no long-term promises. This means you can rent a dance bike for months or years. It will be a great service for those who haven’t ridden their bikes on a regular basis yet. In this way, they can see if they are willing to ride a bike in the long run before buying their bike.
Now that the bike is ready for design, the startup needs to deploy its service. This is just the beginning, as there are now “hundreds” of dance electric bikes in the city of Berlin.
However, today’s funding round is useful because the company plans to double the size of its team with new operations and engineering hires. Dance will spread to more cities throughout Europe from 2022.
Dance raises another $19.4 million for its e-bike subscription service – TechCrunch Source link Dance raises another $19.4 million for its e-bike subscription service – TechCrunch