Stockholm-based CAKE, which produces lightweight electric off-road performance motorcycles, just raised €12.6 million in an oversubscribed round led by Creandum, with participation from e.ventures and existing investors.
CAKE wants to speed up the transition toward a zero emission society by developing light, quiet, and clean high performance electric off-road motorcycles. The startup is currently producing and shipping its models 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.
”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,” said Stefan Ytterborn, founder & CEO of CAKE. “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 Autumn.”
“It’s inevitable that there will be a major paradigm shift in transportation,” said Staffan Helgesson, general partner at Creandum Advisor. “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 toward a zero emission society, something everyone at Creandum is very passionate about.”
“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,” said Jonathan Becker, Partner at e.ventures.