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Boutique e-motorcycle startup Cake files for bankruptcy
Cake has filed for bankruptcy after a challenging few months, which involved two recalls and trouble closing a new funding round.
Electric motorcycle startup Cake filed for bankruptcy February 1, CEO Stefan Ytterborn has confirmed to TechCrunch. 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. 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.
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