Vok Bikes, an Estonian company behind a new generation of four-wheeled electric cargo bikes, has raised €5 million to further expand across Europe and accelerate the shift away from vans in city centres.
The Series A funding round is led by SQM Lithium Ventures, the corporate venture capital team affiliated with SQM International Lithium (SQMi). The round was joined by existing investors Metaplanet, Specialist VC, Sunly, and SmartCap – Estonia’s state-backed VC fund, whose Green Fund investment is supported by the EU’s NextGenerationEU recovery plan.
“Vans are a blunt tool for a precision job,” says Indrek Petjärv, CEO and Co-founder of Vok Bikes. “Cities have changed, and Vok is designed for how they move today.”
Founded in 2019, Vok Bikes designs and manufactures automotive-grade, four-wheeled electric cargo bikes built specifically for commercial use in dense urban environments.
Since launching in 2020, the company has emphasised in-house engineering, resulting in innovations like its proprietary 4Drive drivetrain, which reportedly delivers superior ride quality and durability compared to conventional cargo bikes.
Vok serves a wide range of clients from national postal services to food delivery platforms and micro-service providers in 14 countries across Europe, serving clients from a mobile car wash in the Netherlands to bakeries in London.
Early adopter Wolt has scaled its fleet in seven countries, and IKEA stores in Utrecht and Stockholm now offer Vok bikes for customer rentals.
In total, Vok Bikes has raised over €10 million in venture capital.
“We are thrilled to support a brand that is redefining electromobility,” said Mark Fones, CEO of SQM International Lithium. “Vok’s in-house 4Drive system and top-tier engineering approach have raised the bar by delivering reliability and ride quality on par with automotive standards.”
As cities tighten emissions regulations and deal with worsening congestion, Vok presents an alternative that is both environmentally friendly and commercially viable.
In a test by e-bike rental company Zoomo, a Vok XL beat a van by 20 minutes on a delivery route through London – a 44% faster delivery time with zero emissions and no parking delays.
According to figures provided by Vok, cost comparisons show that Vok is up to 64% more efficient than small city vans over five years, due to lower fuel, maintenance, tax, and parking expenses. In cities like London, 66% of vans operate with less than half of their cargo space used. Vok is right-sized for city deliveries, with no “wasted weight, energy, or space“.
“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 Modern Milkman, a UK-based delivery company. “We’re already seeing the business and environmental benefits.”
With new funding, strong client traction, and a product engineered for modern logistics, Vok Bikes is aiming to become a key player in the shift toward sustainable urban mobility.
Read the orginal article: https://www.eu-startups.com/2025/07/tallinn-based-vok-bikes-raises-e5-million-to-replace-vans-with-next-gen-electric-cargo-bikes/
