German startup Dance has raised $19.4million in new funding (16.5million). This news comes only weeks after Dance launched its ebike subscription service in Berlin.
Today's round of funding is led by Eurazeo. BlueYard and HV Capital are also investors, along with Dave Morin from Offline Ventures and James Higa, Roxanne Varza, Verena Paausder, and Nicolas Berggruen.
Dance created its own ebike, the Dance One. It has a carbon belt and hydraulic discs. A smartphone mount is included. The battery can be detached for a range of 55km.
Customers don't buy the bike from them directly. Instead, you can subscribe to the bike for 79 USD per month (or approximately $93 at the current exchange rate). It's a simple experience. Dance can send a mechanic out to your location if you have a flat or other issue with your bike.
You don't have to rent the Dance bike for many years. This can be a great option for those who don't bike often. They can test whether they like riding a bicycle over time before purchasing a new bike.
The startup now needs to launch its service after the bike design has been approved. This is just the beginning, as hundreds of Dance ebikes are already on the streets of Berlin.
Today's funding round will prove to be a boon as the company plans on doubling its workforce with new employees in engineering and operations. Dance will be expanding to other European cities starting in 2022.
