Swedish electric motorcycle startup Cake has reportedly filed for bankruptcy.Cake CEO Stefan Ytterborn did not comment on next steps, TechCruch reported Friday (Feb. 2).The company was in the midst of a funding round when an investor’s withdrawal pushed it over the edge, according to the report. While it remains unclear if Cake filed for bankruptcy protection or insolvency, Ytterborn expressed his determination to find a solution.Cake gained recognition for its high-design bikes and raised $14 million in a Series A funding round in 2019, the report said. This was followed by a $60 million Series B round in 2021, which aimed to support the company’s manufacturing facilities and retail expansion plans in Europe, North America and Asia.However, Cake has faced challenges in recent months, per the report. In November, it issued a recall for one of its mopeds due to a steering column defect. Shortly after, its flagship Kalk eMotorcycle was recalled after a unit caught fire in a South Korean dealership

A spokesperson for Derby City Council told the Local Democracy Reporting Service: "We have been informed that Superpedestrian has closed its UK operations, which includes its trial e-scooter subscription scheme in Derby.

Superpedestrian's dissolution came just days before Bird - the industry leader in shared e-scooters - announced it was filing for Chapter 11 bankruptcy.