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Chester, England-based Bikmo, a cycle and e-mobility insurance company, announced on Wednesday, October 18, that it has secured £3.4M (approximately €3.9M) Series A extension round led by Puma Private Equity.
The company says it will utilise the funds to expand its operation into additional European markets and offer support to international partners.
The European Parliament, recognising the growing importance of cycling, has declared 2024 as the ‘Year of Cycling’ to double the distance covered by cyclists by 2030.
The adoption of e-bikes is also on the rise, with UK electric bike sales having surged by over 40 per cent in 2020.