CAKE, the Swedish manufacturer of lightweight electric off-road performance motorcycles, today announces that CAKE’s latest round of fundraising surpassed expectations and closed at €12,71 M. The considerably oversubscribed round, led by Creandum, included global fund e.ventures, in addition to a strong backbone of existing investors and a limited number of very specific and peak competence specialists.
”This is a giant step for CAKE, hooking up with leaders in their trade, and aside from the capital injection nursing our way forward sharing in-depth competence and experience. The ability to accelerate is timely, just having launched the street certified Kalk& model for North America and Europe, as well as launching the next model Ösa, a more commuter oriented vessel, during fall,” says Stefan Ytterborn, Founder & CEO of CAKE.
CAKE’s mission to contribute to speeding up the transition towards a zero emission society by combining excitement and responsibility, has been making waves throughout the industry since launch in January 2018. Currently producing and shipping the Kalk OR and Kalk&, both bikes are developed from scratch to be ultra lightweight with unprecedented reliability and durability, offering industry-leading performance and countless riding possibilities.
“It is inevitable that there will be a major paradigm shift in transportation. The electrification of vehicles is a big part of this and we see consumer adoption accelerating rapidly. The combination of award-winning Scandinavian design, product innovation and a stellar entrepreneur makes CAKE a great addition to Creandum funds’ portfolio of mobility companies such as Voi, Bolt, Ree and Distribusion. We are excited to support their mission to speed up the journey towards a zero emission society, something everyone at Creandum is very passionate about,” says Staffan Helgesson, General Partner at Creandum Advisor.
“With Stefan’s previous experience in building premium brands like POC, we believe the team behind CAKE is perfectly positioned to create a new premium segment in the electric utility and urban commuter market,” says Jonathan Becker, Partner at e.ventures.