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Estonia is gunning for a spot as the mobility capital of Europe, hosting unicorn-scale giants like Bolt alongside other innovators in the niche. This week, Tallinn-based Vok Bikes secured €5M in Series A funding to remake last-mile logistics. Their answer to congested city streets isn’t bigger vehicles, but smarter ones.
SQM Lithium Ventures, the corporate venture capital arm of SQM International Lithium, led the round. Existing supporters, including 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—joined the investment.
“Vans are a blunt tool for a precision job,” explains Indrek Petjärv, CEO and co-founder of Vok Bikes. Since its founding in 2019, Vok Bikes has developed automotive-grade, four-wheeled electric cargo bikes specifically designed for commercial use in dense urban environments. The company’s breakthrough lies in combining the reliability of automotive engineering with the agility of a bicycle.
A drive like no other
To stand out in the crowded market, Vok built their in-house 4Drive drivetrain system. It delivers superior ride quality and durability compared to conventional cargo bikes, meeting automotive standards.
Bikes have a range of up to 100 kilometres on a single charge with swappable battery packs, with a top speed of 25 km/h (compliant with e-bike regulations), and pack from 420 litres to 2 square meters of cargo with 200 kg payload capacity.
Estonian postal service Omniva has been an early adopter, reporting that comparable routes take the least time with Vok, beating foot couriers by about 40% and car couriers by 20%. The company has deployed 15 electric bikes across various Estonian regions and plans further expansion.
Vok’s reach extends far beyond Estonia. The company now serves clients across 14 European countries. Notable partnerships include Wolt and IKEA.
The new round brings Vok’s total venture capital funding to over €10M and opens doors to future growth and expansion. “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.”
