Electric Motorcycle Maker Cake Raises $60 Million

Cake

Cake, the maker of electric motorcycles, has recently raised $46 million in a Series B funding round and $14 million in convertible notes. This funding round was led by the Swedish pension fund AMF along with other new investors. Existing investors, like Creandum and Headline, also showed strong support. Cake is a Swedish company that develops high-performance electric motorcycles, scooters, and mopeds. Since introducing its first model, the Kalk, in 2018, the company has received numerous awards for its light and quiet electric motorcycles. 

According to a survey conducted by Ernst & Young Global Limited in July 2021, almost 90% of consumers in India are willing to pay a premium for an electric vehicle. The COVID-19 pandemic has increased awareness and concerns about environmental...

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