Movs Technology Group SEK 45m Private Placement | Q3 2022

Comment from the CEO

“Many consumer brands are affected by a declining economy, but for us it is the opposite, our service is suitable for those who want to reduce monthly costs and avoid major investments. In addition, our market is driven by several major macro trends such as an increased interest in subscriptions, sharing services, micro-mobility and sustainable travel”, says Mikael Klingberg, CEO, Movs Technology Group.

Press release (Swedish)

About MOVS

MOVS is part of Movs Technology Group, which has been an industry leader in the sale of personal environmentally-friendly means of transport since 2005. Movs Technology Group is today the market leader in electric mopeds, and the leading dealer of electric bikes in Sweden. The company has developed several market-leading brands in Sweden: Baotian, Vässla, Drax, Niu and Lifebike. The Mobility-as-a-Service service MOVS is a subscription service for long-term rental of bikes, as well as light electric vehicles such as electric bikes and electric mopeds.

The case

• Management team has extensive experience in the industry, having established a number of brands as market leaders and designed a total of 45 light vehicles. The founders of Movs Technology Group were also part of the creation and launch of the Swedish micro-mobility brand Vässla.


• MOVS is available to B2B and B2C.
  
  
  
  • B2B – to companies wanting to provide bikes and e-bikes to their customers or employees, as well as to last-mile delivery firms looking to reduce high one-off costs in their business through a subscription-based vehicle.
  
  
  • B2C – to customers wanting a hassle-free subscription-based vehicle.
  
  
  
  


• MOVS is launching in three Scandinavian cities (Stockholm, Malmoe and Copenhagen) and targeting 3,000+ subscriptions year one.


• Demand for MOVS is driven by macro trends, e.g. (i) changing consumer preferences towards micro-mobility and subscription-based services, and (ii) sustainable intracity transport and delivery driven by regulatory initiatives and increased environmental awareness.


• Movs Technology Group controls the whole value chain, from design to delivery of the vehicles, which, together with a proven supply chain, enables an accelerated expansion.

Movs Technology Group's website