Dance Raises $19.4M for E-Bike Subscription Service

Dance Secures $19.4 Million in Funding for E-Bike Subscription

The German company, Dance, has successfully obtained $19.4 million in a new funding round, equivalent to €16.5 million. This announcement follows closely on the heels of the company’s recent launch of its e-bike subscription service within Berlin.

Investment Details

Eurazeo is spearheading the current funding round. Additional investors include HV Capital and BlueYard, alongside Dave Morin and James Higa of Offline Ventures. Nicolas Berggruen, Roxanne Varza, and Verena Pausder are also participating in this investment.

The Dance One E-Bike

Dance has developed its own e-bike model, known as the Dance One. Key features include a carbon belt drive, hydraulic disc brakes, an integrated smartphone holder, and a removable battery providing a projected range of 55 km.

Unlike traditional bike purchases, customers opt for a subscription model. The monthly fee is €79, which currently translates to approximately $93 based on prevailing exchange rates.

Subscription Benefits and Flexibility

The subscription service is designed for convenience. Maintenance and repairs, such as fixing a flat tire, are handled by Dance through dispatched mechanics.

Subscribers are not bound by long-term contracts. Rental periods can range from a few months to multiple years. This offers a flexible solution for individuals who are considering cycling but are hesitant to make a full purchase.

Current Operations and Future Expansion

With the e-bike design finalized, Dance is now focused on service deployment. Currently, a fleet of “hundreds” of Dance e-bikes are operational in Berlin.

The newly acquired funding will facilitate team growth, specifically in operations and engineering. Dance intends to broaden its service availability to additional cities throughout Europe, beginning in 2022.