Vässla, a Swedish Stockholm-based micro-mobility start-up producing e-bikes and e-mopeds, has raised US$11 million in a funding round led by the Swedish Investment group, Skabholmen Invest on June 14, 2021.

Investors: Apart from the Swedish Investment Group, the round also involved several high-profile Nordic-based entrepreneurs and finance profiles. Magnus Wiberg and Patrik Hedelin, who founded the growth capital firm eEquity, were also significant contributors. Till now, the company has secured a total of US$6 M, excluding the current round.

Purpose of the Funding: The start-up plans to use the funds to launch a Vässla Club rental platform offering subscription and rental services to consumers, delivery drivers and businesses via an app. It also plans to bring its new bike, which is a hybrid of an e-bike and e-moped, to several European cities, including Berlin, Hamburg, Madrid and Vienna, and the U.K. once pending government legislation on e-scooters is revealed in early 2022.

About Vässla

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Founded in Sweden in 2017 by Rickard Bröms, who, in association with CTO German engineer and inventor Prof. Uwe Hager, Vässla is the producer of e-scooter vehicles sold in the Nordics, Germany, Spain, and the Netherlands. The company’s prime concern is to resolve problems like traffic congestion and global warming by offering a sustainable solution to cover short distances in lesser time.

Although there exists inconsistency between countries and their respective governments about the categorisations within the micro-mobility sector, the Vässla bike, a new product between the e-bike and e-moped category, aims to solve this problem.

What the Founder has to say: “The current funding will allow Vässla to transform from a classic direct-to-consumer (DTC) retail model into a more scalable rental model with recurring revenues. We plan on launching the first tier of our Vässla Club, Vässla Club for People, by early 2022, in Stockholm and Berlin.”- Rickard Bröms, Founder of Vässla.

What the Investors have to say: Skabholmen Invest focuses on small and mid-companies in various sectors with underlying development potential. Being an integral part of the funding round, Skabholmen Invest will join the Vässla board of directors. “We truly believe that personal cars will be excluded in future urban planning. In such a scenario, micro-mobility will revolutionise cities and reshape urban living for good. Vässla is the shining firm in this sector, and hence we preferred to lead this funding round.” Wilhelm Pettersson, CEO of Skabholmen Invest.

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Sankalp majorly focuses on writing newsletters on VCBay. He is pursuing Bachelors in Economics from the University of Delhi and exhibits proficiency in content writing and research.

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