Motorcycle

Swedish maker CAKE secures $ 60 million to expand globally


It’s been hot since we covered the additions Ösa – Electric bike made by Swedish electric bike maker CAKE – Partnership with FIM..

Credit: Youtube

The brand has a mission to provide clean energy equipment to the masses and has just completed a “Series B” round with investors, resulting in $ 60 million in funding.

Side view of CAKEOsa with the model standing behind the bike
Credit: Magnetic Magazine

A brief reminder about how the series is funded:

Series A, B, and C financing all serve a variety of corporate goals.In the Series A funding round, companies with great ideas secured $ 2 to $ 16 million in funding, and investors A company with great ideas (and strong strategies) to turn your dreams into a profitable business.

An explanation of how series financing works for businesses

Series B Financing – cakeThe current stage of is to expand reach to the market and expand product, sales, advertising, technology, support, and employee development.

Investopedia “Most Series B companies are valued at around $ 30 to $ 60 million, with an average of $ 58 million,” he said.

In short, CAKE has secured a $ 46 million round of funding and holds $ 14 million convertible bonds, which is the upper limit of its range. TechCrunch..

Side view of CAKEOsa with the model standing behind the bike
Credit: readmeta.com

CAKE’s leading investor, the Swedish pension fund AMF, led the funding round and participated in other existing stakeholders (Creandum and Headline, Cake’s $ 14 million “Series A” round in 20192. Two VCs) and new investors increased the results.

“”Cake’s obsession with creating great user experiences Staffan Helgesson, General Partner of Creandum Advisor, said in a statement:

“We are very pleased to continue to support the team over the long term in their ambition to become a category leader in the premium motorcycle segment.”

Side view of OSA bike from CAKE with related accessories
Credit: bikerumor

CAKE also issued a statement on future plans.

“Efficiently, you can place an order with a two-week delivery time instead of placing an order eight months in advance, reflecting the expected demand for high inventory risk and heavy cash flow.”

“When we started in 2016, we knew we were in an increasingly strong tailwind space, but dreaming of the pace at which things are happening for people, the planet, and business. Couldn’t. “

Side view of CAKEOsa with the model standing behind the bike
Credit: InsideEvs

The spokesperson will continue to talk about additional plans for the company. With a growing presence in retail stores, showrooms will appear in major cities as early as this fall.

Side view of CAKEOsa with the model standing behind the bike
Credit: dexigner

Please look forward to the update. Check out CAKE’s current lineup on their website..



https://www.webbikeworld.com/swedish-manufacturer-cake-secures-60-million-in-funding-to-expand-globally/ Swedish maker CAKE secures $ 60 million to expand globally

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