Here are the companies set for growth from the boom in demand for e-bikes

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The next hottest industry for venture capitalists? E-bike and e-scooter startups. In our pandemic world, consumers are looking for mobility. Deloitte estimated last year that the number of e-bikes in circulation worldwide will reach 300 million by 2023.

Venture-capital firms are pouring money into e-bike and e-scooter startups, as the pandemic and social distancing measures escalate the popularity of urban mobility to help consumers and workers get around town.

The influx of cash comes as consumers and key workers are increasingly turning to bicycles, e-bikes and scooters as travel restrictions on public transport remain in place.Many countries across Europe have fully embraced electric bikes. In Germany, sales rose by 36% to nearly one million units in 2018. Almost a million more were sold in Germany in the first half of 2019, while more than half of all adult bikes sold in the Netherlands in 2018 were electric.

The pandemic has also accelerated the trend for traditional pushbikes. Bike shops around the world reportedly sold out of their goods at the peak of the pandemic. Founded in 2009 by the Carlier brothers Taco and Ties, VanMoof said it has entered the scaleup hyper growth phase in the last two years, quadrupling €10 million 2018 revenue to nearly €40 million in 2019.

 

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