Boutique e-motorcycle startup Cake files for bankruptcy [TechCrunch]
micromobility.com Inc. (MCOM)
Company Research
Source: TechCrunch
The Swedish company was in the middle of a funding round, just prior to the filing, but apparently the withdrawal of an investor was what tipped the company over the edge, according to Swedish media reports . Ytterborn declined to comment on what will happen next. While it's unclear if Cake filed for bankruptcy protection or insolvency, Ytterborn did tell media outlet Dagens Industri that he had nothing else “in mind but to find a solution in one format or another.” His comments suggest the company filed for protection. Best known for making high-design bikes, Cake raised a $14 million Series A in 2019. It followed that with a $60 million Series B round in 2021 led by Swedish pension fund AMF. The capital was meant to fund manufacturing facilities in Europe, North America and Asia, as well as scale up its retail capabilities, the company said at the time. Cake has struggled as of late, though. In November, it issued a recall for one of its mopeds because of a risk that the steeri
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MCOM
Sec Filings
- 4/16/24 - Form 10-K
- 4/2/24 - Form 424B2
- 4/1/24 - Form NT
- MCOM's page on the SEC website