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    Amsterdam-based Cargoroo, a shared electric cargo bikes provider, announced on Monday that it has secured €10M from Participatiefonds Duurzame Economie Noord-Holland (PDENH), The Sharing Group, Fairtree Elevant Ventures, and others.

    The Dutch company says it intends to deploy the capital to expand its operation across Europe. In 2023, the company plans to introduce e-cargo bikes in more cities across Germany and on the French market in the city of Lyon.

    SILICON CANALSAmsterdam-based e-cargo bike platform Cargoroo raises €10M

    While, the e-bike market is expected to witness growth due to an increase in demand for sustainable mobility solutions, rising traffic congestions, increasing fuel prices, and growing interest in cycling as a fitness and recreational activity, Cargoroo, the Dutch company behind the yellow e-share cargo bikes, has raised €10 million from investors recently.

    The funding was led by The Sharing Group and Participatiefonds Duurzaam Economie Noord-Holland (PDENH) who were joined existing investors Fairtree Elevant Ventures.

    TECH FUNDING NEWSAmsterdam’s ‘Uber’ of electric cargo bikes, Cargoroo pedals €10M funding

    Cargoroo’s newest €10 million investment round was pedaled by The Sharing Group and Participatiefonds Duurzaam Economie Noord-Holland (PDENH) who join existing investors Fairtree Elevant Ventures.

    “With this investment, we and the Team can take a major next step in our mission: making cities more liveable, healthier, and safer,” commented Cargoroo CEO Erik de Winter. “In addition to capital, the investors bring experience and knowledge in the areas of the sharing economy, the public sector, and mobility. We are fully aligned in our vision and values.”

    TECH.EUElectric cargo bike provider Cargoroo adds €10 million to the pouch