Image credits: Mokumono
Mokumono, an Amsterdam-based e-bike brand, announced on Wednesday that it has secured €800K in funding Rabobank in collaboration with a consortium of five informal investors.
The Dutch e-bike company intends to use the funds to scale up in anticipation of the launch of new models later this spring.
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Tom Schiller, who founded Mokumono with his brother Bob, says, “We’ve seen exponential growth the past few years, and this investment allows us to staff up, open a new showroom in Amsterdam and optimise our processes. 2022 is going to be a pivotal year for us: we want to take the next step in building a sustainable business – and this investment helps us push the entire industry towards better practises.”
Mokumono: What you need to know
Mokumono claims that around 97 per cent of all bicycle frames sold in Europe are produced in Asia. The company says there was a time when The Netherlands had a thriving bicycle industry, and made-in-the-Netherlands stood for quality and craftsmanship.
Founded by Bob and Tom Schiller in 2014, Mokumono is on a mission to bring back bike production to the Netherlands and inject transparency into the supply chain.
Mokumono invented a unique way of producing bikes that involves pressing and welding steel plates using the automated production techniques from the car industry.
In the process, two aluminium shells are pressed in shape with the help of rubber moulds. Then, the bottom bracket, seat post tube, and ball head are welded to produce a strong yet light frame.
Currently, the company offers two e-bikes – Delta S and Delta C – and has won several design awards, including the Design and Innovation Award 2022. The company is launching its third model – the Polder – this spring.
Investors
Utrecht-based Rabobank Group is an international financial services provider. It offers retail banking, wholesale banking, private banking, leasing, and real estate services.
Eijbert Reijerse, Director of Private Banking at Rabobank, says, “We’re always looking for entrepreneurs with innovative ideas that develop sustainable and well-produced products. Mokumono exists in a growth market with great, honest products. As a cooperative bank, we are proud to be able to contribute to this unique project.”
Mark Grosfeld, one of the informal investors, adds, “The e-bike market is dynamic and Bob and Tom have positioned themselves very well with Mokumono to play an instrumental part in the higher segment. The combination of beautiful design and smart, industrial process-technology makes this an interesting proposition. As a group, we look forward to contributing to Mokumono’s continued growth.”
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