DYU electric Bicycles raises $15 million to accelerate global expansion
With its innovative folding design and superior market performance, DYU has established itself as a leader in the international e-bike industry
DYU, A leading international e-bike brand, has announced the successful completion of a $15 million Series A funding round led by a number of top international investors. Since its founding in 2014, DYU has been developing innovative electric bicycles suitable for short trips, and this financing marks a significant step in its global market expansion and technological innovation.
Leven, CEO of DYU, said in an interview: "This financing is an important demonstration of the market recognition of DYU's brand and products. Since our foldable electric bicycles entered the international market in 2017, especially through the Costco sales channel, our products have been widely welcomed by customers worldwide due to their unique design and high cost performance."
As of 2020, DYU's annual sales have exceeded 150,000 units, and by 2023, the company's annual shipments have grown to nearly 500,000 units. In the European and American markets, DYU's folding electric bikes have occupied more than 50% of the market share, and its $500 to $1,000 pricing strategy has also achieved about 30% share in the U.S. market.
Leven further elaborated on the purpose of this round of funding: "We will primarily invest in key areas such as product development, marketing, supply chain expansion and team building. Our goal is not only to consolidate our leadership position in our existing markets, but also to expand our reach globally."
In early 2023, DYU debuted its V8 series in the U.S. market, marking a significant expansion of the company's global e-bike footprint. In April, the company launched the eye-catching T1 series, further strengthening its leading position in the industry.
By the close of 2023, the DYUD3 series clinched the prestigious Global Good Design Award, marking a significant milestone that underscored its superior performance and groundbreaking design on the global front. Concurrently, the company's visionary founder, Leven, graced the Tech and Trend Industry Conference with a keynote that highlighted DYU's avant-garde stance in technological innovation. Culminating the year's achievements, DYU unveiled the innovative C3 series, a collection that marries fashion with functionality, thereby expanding DYU's diverse and vibrant product portfolio.
DYU's strategic decision to set up its European headquarters in the Netherlands in 2023 not only reflects its deep focus on and commitment to the European market, but is also a key part of its global layout. This move not only provides a solid springboard for DYU's growth in the global e-bike space, but also marks an important step in advancing sustainable mobility solutions.
Overall, this financing provides DYU with a strong platform to take the next step in the global e-bike market and drive the development of sustainable mobility solutions while strengthening its position as an industry leader.
