Copenhagen Wheel creator secures $16.5 million in funding to develop smart share tech

Superpedestrian, the company behind the Copenhagen Wheel, has raised $16.5 million to develop its technologies for electric bike share applications.

Looking to tap into the incoming tide of pedal-assisted bikes for hire landing around the globe, Superpedestrian is developing the wheel, a complete bike and systems for bike hire.

The funding round pools money from Spark Capital, General Catalyst and Extol Capital’s Charles Kim, as well as money from Nest co-founder Tony Fadell. The latest round brings the businesses funding to date up to $44 million.

CEO Assaf Biderman said: “Superpedestrian’s technology overcomes the major issues faced by this growing industry. Our e-bikes autonomously manage themselves through onboard diagnostics, self-protection, and self-calibration and then connect to a remote maintenance system that can service the entire fleet. If you rely mostly on users to report that something is broken, that’s too late. We know what’s going on inside each of our e-bikes and can resolve most issues before they occur.”