Cake Bikes is a technology company.
Cake Bikes has raised $60.0M across 2 funding rounds.
Cake Bikes has raised $60.0M in total across 2 funding rounds.
Cake Bikes has raised $60.0M in total across 2 funding rounds.
Cake Bikes's investors include Creandum, J12 Ventures, Lightrock, Possible Ventures, TQ Ventures, Tellef Thorleifsson.
Cake is a Swedish technology company specializing in lightweight, high-performance electric motorcycles and mopeds designed for off-road, urban, and professional use.[1][5][6] It builds products like the Kalk (off-road dirt bike), Ösa (utility platform with power station), and Makka (urban moped), serving adventure riders, commuters, and fleet operators in last-mile delivery.[1][2][5] These solve urban mobility and emissions problems by offering silent, clean alternatives with top speeds up to 90 kph, fast-swappable batteries, and connectivity for real-time data, while prioritizing sustainability in design and production.[3][4] Early growth was strong with sold-out launches and 200+ awards like Red Dot and IF Design, but financial struggles led to bankruptcy in February 2024, followed by a new owner in 2024 to revive operations.[5][6]
Founded in 2016 in Stockholm by Stefan Ytterborn (CEO) and his sons, inspired by gravity sports and a passion for zero-emission mobility, Cake aimed to pioneer light electric off-road motorbikes.[1][3][5][6] The idea emerged from rethinking combustion bikes for electric drivetrains, engineering everything from frame to wheels in-house for superior performance and durability.[4][6] Pivotal moments included the 2018 debut of the Kalk (50 hand-made units delivered, later series production in 2019), rapid awards, 2019 Ösa launch, 2020 race models, 2021 Makka and :work series for professionals, and CES 2022 US expansion—though later hit by payroll issues, recalls for battery fires, and 2024 bankruptcy before new ownership.[1][2][3][5][6]
Cake rides the e-mobility trend toward zero-emission urban and off-road transport, accelerating the shift from combustion engines amid climate pressures and regulations favoring EVs.[1][2][4] Timing aligns with rising demand for efficient last-mile solutions post-2020, outpacing cars/bikes in cities via connectivity and pro fleets.[2] Market forces like battery tech advances and sustainability mandates boost it, influencing the ecosystem by defining the "light electric off-road" category—pioneering purpose-built EVs over hybrids, inspiring competitors, and pushing awards-validated innovation despite setbacks.[1][6]
Post-bankruptcy revival under new 2024 ownership positions Cake to leverage its 200+ awards and tech IP for scaled production and global expansion in e-mobility.[6][8] Trends like fleet electrification, AI-driven fleet management, and sustainable manufacturing will shape growth, potentially evolving its influence from niche innovator to mainstream zero-emission leader if financial stability holds.[2][5] Watch for :work series adoption in deliveries and new models building on Kalk's legacy, tying back to its core excitement-responsibility blend amid a rocky but promising road.[1][6]
Cake Bikes has raised $60.0M across 2 funding rounds. Most recently, it raised $46.0M Series B in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $46.0M Series B | Creandum, J12 Ventures, Lightrock, Possible Ventures, TQ Ventures, Tellef Thorleifsson | |
| Sep 1, 2019 | $14.0M Series A | Creandum, J12 Ventures, Lightrock, Possible Ventures, TQ Ventures, Tellef Thorleifsson |