E-bike subscription start-up, DANCE, launched earlier in 2020 by the founders of Berlin music-streaming app Soundcloud, has raised €15 million in Series A funding. The round was led by European venture capitalist group HV Holtzbrinck Ventures, early backers of HelloFresh, Zalando, Delivery Hero and Flixbus.
DANCE’s ‘frictionless’ subscription model includes a fully assembled, state of the art e-bike delivered within 24 hours. Maintenance and theft replacement insurance is included, as part of its all-inclusive services.
DANCE, led by Eric Quidenus-Wahlforss, Alexander Ljung and Christian Springub, has ambitions to expand into markets across Europe and eventually the U.S.
Quidenus-Wahlforss, co-founder and CEO of DANCE, says: “The goal of DANCE is to spark a global movement built on a connected community of passionate e-bike riders, ultimately making cities more bike-friendly and livable. We’ve become inundated with positive responses from around the world since we announced our invite-only pilot program, and it’s become crystal clear just how much desire, demand and excitement there is for a service like DANCE across the world.”
He adds: “In densely populated cities and other urban areas, owning a car shouldn’t be an option especially since cleaner, greener and bike-friendly public infrastructure is increasingly expanding. These areas are expensive and congested with commuter traffic. DANCE is a holistic solution built for the person interested in saving time, the environment and staying healthy.”
Rainer Märkle, General Partner at HV Holtzbrinck Ventures, adds: “We analyzed the overall mobility market, evaluated all means of transport, and crunched the numbers on all types of business models for a few years before we found what we were looking for. DANCE is by the far the most viable future of biking, bridging the gap between e-bike ownership and more joyful accessibility to go places.”
DANCE is currently operating the invite-only pilot of its e-bike subscription in Berlin, with plans for a broader launch, expanded accessibility & availability and new cities next year