Dance , a German firm, has secured new investment of $19.4 million (16.5 million). The announcement comes shortly after Berlin-based started rolling out launched its e-bike subscription service.

Today’s investment round is being led by Eurazeo. Along with Dave Morin and James Higa from Offline Ventures, Nicolas Berggruen, Roxanne Varza, and Verena Pausder are also making investments, along with HV Capital and BlueYard.

Recall that Dance created its own electric bicycle, the Dance One. It has a replaceable battery with a predicted 55 km range, a carbon belt, hydraulic discs, and an integrated smartphone mount.

Customers don’t purchase bicycles directly. You can instead sign up for 79 per month (about $93 at the current currency rate). It’s then a hassle-free experience. Dance will send a mechanic to fix your bike if it has a flat tire or any other problem.

You can rent a Dance bike for a few months or several years because there are no long-term commitments. It can be a fantastic option for those who don’t already bike frequently. Before purchasing their own bike, people might use this method to determine if they enjoy riding a bike in the long run.

The startup must launch its service now that the bike design is complete. Since there are currently hundreds of Dance e-bikes on Berlin’s streets, it’s only the beginning.

However, the company wants to increase the size of its staff with new recruits in operations and engineering, so today’s investment round will be beneficial. Beginning in 2022, dance will spread to additional cities throughout Europe.

Subscribe to us!