# Velove Bikes

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/velove-bikes

- Industry: Logistics & Distribution
- Headquarters: Goteborg, Sweden
- Website: www.velove.se
- Total disclosed funding: $1.1M
- Latest round: Seed (Nov 4, 2019)
- Investors on record: 1

## About

Velove Bikes AB is a Swedish company focused on sustainable urban delivery solutions, providing eco-friendly cargo bike services to enhance logistics while minimizing environmental impact.Founded in 2015 in Gothenburg, Sweden, Velove Bikes AB specializes in last-mile delivery using cargo bikes. The company has raised EUR 1 million in Seed funding led by ALMI Invest as of November 4, 2019. Key figures include founders Dennis Kanter, Johan Erlandsson, and Linda Kanter, with Jonatan Schwamberg serving as CEO.Velove specializes in sustainable urban last-mile delivery solutions, leveraging cargo bikes for efficient and eco-friendly parcel delivery. Their flagship cargo bike, awarded the International Cargo Bike of the Year in 2019, is engineered to reduce CO2 emissions while ensuring swift operations. The company employs advanced technology for algorithmic routing and scheduling, optimizing customer communication. Velove serves a diverse clientele across urban Scandinavian markets, including Stockholm, Copenhagen, Gothenburg, Malmö, and Lund, focusing on businesses aiming for sustainability.In the most recent fiscal year 2024, Velove generated revenue of EUR 2,420,262.40 with an EBITDA of EUR -3,008,792.20. Revenue stems from service agreements with businesses needing last-mile delivery, structured to accommodate B2B relationships, facilitating predictable income through volume-based pricing contracts.Velove plans to utilize the EUR 1 million raised in Seed funding to enhance its product offerings and expand market presence. The company is currently developing new cargo bike models designed for larger deliveries, with expectations to launch in late 2024. Additionally, Velove aims to extend its services into new regions across Europe, focusing on major urban centers by mid-2025, thereby broadening its operational footprint and supporting its commitment to sustainable logistics.

## Funding rounds

- Seed, Nov 4, 2019, $1.1M — ALMI Invest

## Investors

- ALMI Invest — Seed