Almi Invest's GreenTech fund invests appr. € 0.4M in Gothenburg-based Velove Bike's energy efficient and city friendly solutions for city logistics. Idealist and a number of private investors also participate in the total investment of appr. € 1M.With proven hardware and the recent award "International Cargo Bike of the Year", Velove Bikes can, with the investment, now expand its operations.

E-commerce and field services, where vans and cars are used are increasing congestion on already crowded streets in city centers. However, many of the deliveries and service assignments do not really require heavy motor vehicles, but can be carried out by significantly smaller and more energy efficient vehicles, such as cargo bikes. Nordstan and Velove now facilitate the use of light vehicles by establishing a city hub. With safe areas for parking, changing rooms, traffic management, transhipment and maintenance and repairs, it will now be easier for Pling, Best and DHL Express to use to replace small deliveries in central Gothenburg, which is today made with vans, with nine of Velove's cargo bikes.

Velove has recruited Kristian Malm as CFO. Kristian has a long and broad experience of business administration and financing, and have had similar positions in several companies.