Velove Bikes AB secured a €1M seed investment to enhance its electric cargo bike solutions, aiming to revolutionize last-mile delivery while promoting sustainability.

Target Information

Velove Bikes AB, founded in 2015, is a Swedish startup dedicated to revolutionizing last-mile delivery services through its innovative eCargoBike solutions. The company's flagship product, the Armadillo, is a four-wheeled electric cargo bike that boasts high capacity and is designed for urban logistics. Velove's City Containers further enhance its offering, making it a leader in the emerging market for environmentally friendly delivery options. Recently recognized as the International Cargo Bike of the Year in Groningen, the Netherlands, Velove has established itself as an integral player in the logistics sector by pairing efficiency with sustainability.

Industry Overview

In Sweden, the last-mile delivery sector is experiencing significant transformation, driven by a rise in e-commerce and growing consumer expectations for rapid delivery services. Traditional delivery methods, often utilizing fossil fuel-based vehicles, are increasingly scrutinized due to their environmental impact. As cities aim to reduce congestion and CO2 emissions, solutions such as Velove's eCargoBikes present an attractive alternative.

Moreover, urban areas are facing challenges related to traffic congestion and pollution, especially from delivery vehicles. The introduction of lightweight, efficient, electric cargo bikes aligns perfectly with governmental and societ