It has been three months since the original founders of SoundCloud introduced their e-bike subscription platform, Dance. Today, the company is announcing the completion of a $17.7 million (€15 million) Series A funding round, spearheaded by prominent European venture capital firm, HV Holtzbrinck Ventures.

Dance was established by Eric Quidenus-Wahlforss (formerly of SoundCloud), Alexander Ljung (currently chairman at SoundCloud), and Christian Springub (previously with Jimdo). The company intends to extend its comprehensive subscription service to additional European countries and, ultimately, the United States. Currently, Dance is conducting an exclusive, invitation-only trial of its e-bike subscription service in Berlin, with plans for a wider rollout, increased access, greater availability, and expansion into new cities in the coming year.

Rainer Märkle, a general partner at HV Holtzbrinck Ventures, stated: “The transportation sector is experiencing a significant move towards bicycles, largely driven by the growing trend of electric vehicles. However, many e-bikes currently available suffer from a combination of unattractive design, substantial initial costs, and complicated upkeep. We thoroughly researched the mobility market, assessed various transportation options, and analyzed different business models over several years before identifying the ideal solution. Dance represents the most promising future for cycling, effectively addressing the gap between e-bike ownership and convenient access for getting around.”

Purchasing an e-bike can often be quite costly, and repairs can be problematic. However, companies like VanMoof and Cowboy have introduced a business approach similar to Apple’s, which is rapidly reducing the overall expense of e-bike ownership.

Many people are discouraged from cycling the typical 10 kilometers (6.2 miles) commute, but e-bikes make this distance easily manageable. Dance provides a middle ground between the expense of owning a bike and the need to locate a nearby rentable e-bike or electric scooter.

Furthermore, the COVID-19 pandemic has highlighted the importance of individual, socially distanced transportation options. E-bike sales in the U.K. have increased dramatically, with a 230% rise in demand during the summer months. This surge has coincided with EU governments investing in over 2300 km of new bike lanes, and the U.K. alone committing £250 million in funding.

Quidenus-Wahlforss noted that the startup has received “a large number of positive responses from around the globe since the launch of our invite-only pilot program.”

Dance’s subscription package includes a completely assembled e-bike delivered to the subscriber’s location within 24 hours, along with maintenance, theft and replacement insurance, a dedicated smartphone application, concierge support, GPS tracking, and unlocking features.