Cycling company Lauf secures 500 million ISK in a new funding round.
Rewritten Article:
Bicycle whizkids Lauf Cycles have scored a colossal 500 million Icelandic krónur in their latest funding round, an achievement that marks a monumental leap forward for the burgeoning company.
As per the official announcement, investment guru Kvika Investment Bank assisted with this capital infusion, which was primarily led by existing shareholders, with some fresh investors joining the party as well.
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Benedikt Skúlason, CEO of Lauf Cycles, expressed his delight over this significant feat and expressed gratitude towards his investors for their unwavering trust. "This funding empowers us to speed up the production of cutting-edge products, ramp up production capacity, and launch an aggressive expansion into global markets. Buckle up, folks, it's getting exciting around here!" he said.
Strategic push in the U.S.
Lauf Cycles has earned acclaim on the world stage for its trailblazing bicycle designs, particularly in the gravel and road bike segments. Recently, they added a mountain bike to their portfolio.
Over the last three years, Lauf has been building a sturdy assembly plant in Virginia, USA - a clever move designed to enhance operational efficiency and secure its supply chain amid global disruptions.
"The Virginia facility is a critical investment in our future," Skúlason emphasized. "It magnifies our capacity to scale and caters better to our rapidly expanding customer base in North America and beyond."
With deep-pocketed investors and a relentless focus on innovation and expansion, Lauf Cycles is poised to etch its name in the annals of high-performance cycling. Stay tuned for more updates!
- Lauf Cycles, known for their innovative bicycle designs, have received a colossal investment of 500 million Icelandic krónur, marking a significant stride forward in the company's growth.
- The investment was facilitated by Kvika Investment Bank and led primarily by existing shareholders, with some new investors also contributing.
- With this funding, Lauf Cycles plans to speed up manufacturing of cutting-edge products, increase production capacity, and aggressively expand into global markets.
- The strategic move to build a sturdy assembly plant in Virginia, USA over the last three years, aims to enhance operational efficiency and secure the supply chain amid global disruptions.
- The investment and focus on innovation and expansion position Lauf Cycles to make a mark in the high-performance cycling industry, with further updates expected in the future.
