Tallinn-based Vok Bikes Secures €5 million In Series A Round

The goal is to expand across Europe and support the move away from vans in urban areas.

The round was led by SQM Lithium Ventures, the venture arm of SQM International Lithium. Other participants include existing backers Metaplanet, Specialist VC, Sunly, and SmartCap—Estonia’s state-supported VC fund backed 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.”​

Since its 2020 launch, Vok has expanded to 14 countries across Europe, serving clients ranging from postal services to food delivery and local service providers—from mobile car washes in the Netherlands to bakeries in London.

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Wolt uses Vok bikes in seven countries, and IKEA stores in Utrecht and Stockholm offer them for customer rentals. Vok has now 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 face stricter emissions rules and rising traffic congestion, Vok offers a greener, more efficient delivery solution that makes both environmental and commercial sense.

In a test by Zoomo, a Vok XL cargo bike completed a London delivery route 20 minutes faster than a van—a 44% improvement, with zero emissions and no parking issues.

Vok also claims it’s up to 64% more cost-efficient than small city vans over five years, thanks to lower fuel, maintenance, tax, and parking costs. In dense cities like London, where 66% of vans underutilize their cargo space, Vok’s right-sized design eliminates wasted weight, energy, and 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 fresh funding, growing customer demand, and a purpose-built product for today’s delivery needs, Vok Bikes is positioning itself as a leading force in the move toward sustainable urban mobility.

About Vok Bikes

Founded in 2019, Vok Bikes builds four-wheeled electric cargo bikes designed for commercial use in busy city environments. Their in-house engineering has led to features like the proprietary 4Drive drivetrain, offering better ride quality and durability than typical cargo bikes.