Estonian Vok Bikes raises $6M Series A to expand electric cargo bike fleet across Europe

Vok Bikes, an Estonian mobility company, has raised $6 million Series A funding round, led by SQM Lithium Ventures. The existing investors Metaplanet, Specialist VC, Sunly, and SmartCap, also joined the round, Tech.eu reports.

About Vok Bikes

• Vok Bikes was founded in 2019 by Indrek Petjärv, Riho Koop, and Siim Starke. It designs and manufactures automotive-grade, four-wheeled electric cargo bikes built specifically for commercial use in dense urban environments. 

• The company has emphasised in-house engineering, resulting in innovations like its proprietary 4Drive drivetrain, which delivers superior ride quality and durability compared to conventional cargo bikes. 

• According to the company, designed from the ground up for city logistics, Vok bikes offer a durable, low-maintenance, and highly maneuverable alternative to vans.

Investment details 

The funding round was led by SQM Lithium Ventures, with participation from existing investors Metaplanet, Specialist VC, Sunly, and SmartCap.

• SQM Lithium Ventures is the corporate venture capital arm of Sociedad Química y Minera de Chile (SQM), a global leader in lithium production. 

• The fund focuses on early-stage investments in startups that address challenges in lithium production, electromobility, and water management.

Vok Bikes plans to use its fresh funding to expand across Europe and accelerate the shift away from vans in city centers.