Vok Bikes, an Estonian startup pioneering four-wheeled electric cargo bikes for city logistics, has raised $6 million in a Series A round. The proceeds will be used to accelerate its expansion across Europe and push cities further away from van-based delivery systems.
- Founded in 2019 by Indrek Petjärv, Riho Koop, and Siim Starke, Vok designs and manufactures durable, low-maintenance electric cargo bikes built specifically for dense urban environments. The company’s 4Drive drivetrain, engineered entirely in-house, delivers automotive-grade ride quality and reliability, providing businesses with a maneuverable, emission-free alternative to vans.
"Vans are a blunt tool for a precision job,” said Petjärv. “Cities have changed, and Vok is designed for how they move today."
- According to the startup, while vans are typically praised for their cargo capacity, data from cities like London shows that 66% of vans operate at less than half their capacity. Vok’s design eliminates wasted space and energy, making it significantly more efficient, up to 64% more cost-effective than small vans over five years when considering fuel, maintenance, tax, and parking.
- Vok bikes are already operating in 14 countries, serving clients from Dutch mobile car washes to London bakeries. Companies like Wolt have scaled their Vok fleets across seven countries, and IKEA now offers Vok rentals in its locations in Utrecht and Stockholm.
“Each Vok e-bike produces up to 95% less CO₂ than a petrol car, carries up to 100 deliveries, and glides through city traffic,” said Mark Bushby, of UK-based Modern Milkman, one of Vok’s key partners.
- The recent round was led by SQM Lithium Ventures, the corporate VC arm of global lithium leader SQM, and joined by existing backers Metaplanet, Specialist VC, Sunly, and SmartCap — Estonia’s state-backed VC fund supported by the EU’s NextGenerationEU recovery plan.
