Final mile supply e-bike provider Zoomo tacks on $20M to Sequence B – TechCrunch

Zoomo, an Australian startup that builds utility e-bikes for supply employees, has raised a further $20 million in fairness to shut out its Sequence B spherical.

In November, the corporate raised $60 million in fairness and debt for its Sequence B, which it used to fund additional software program improvement and extra automobiles to broaden. The extra funds, which carry Zoomo’s whole funding as much as $101.5 million, shall be used for a lot of the identical goal, particularly hiring extra workforce members globally and investing into additional fleet and car administration choices for each mechanics and clients, in addition to creating an finish rider app, Mina Nada, co-founder and CEO at Zoomo, advised TechCrunch.

The startup can be persevering with improvement and rollout of its new excessive efficiency utility e-bike, the Zoomo One, and is investing in new car form-factors and equipment.

Zoomo affords its e-bikes as a versatile, weekly subscription for gig employees for anyplace from $20 per week to $35 per week within the U.S., which incorporates servicing and help. Typically these costs may be cheaper if a gig employee is signing up via a partnership with one of many app-based supply firms like UberEats or DoorDash. It additionally gives fleets of e-bikes (and third-party manufactured mopeds, in some markets), in addition to fleet administration software program, to enterprise clients like Domino’s.

Since Zoomo was based in 2017, it has expanded to 16 cities in six international locations throughout North America, Asia Pacific and Europe, with Spain, France and Germany being added to the listing simply final 12 months. The startup says its income grew 4x globally and its enterprise enterprise grew 20x in 2021, however up from what, it didn’t make clear.

“2021 was a transformative 12 months for Zoomo, as we noticed enterprises and fleet managers, along with gig-workers, profit from our modern platform,” Nada mentioned in a press release. “2022 is the 12 months we take the enterprise up a gear…At Zoomo, we see a world throughout the subsequent decade the place each last-mile supply shall be accomplished on a light-weight electrical car supported by the Zoomo ecosystem. Our traders will assist carry us one step nearer to creating this a actuality.”

The elevate was led by Collaborative Fund, with strategic traders MUFG Innovation Companions, SG Fleet, Akuna Capital and Wind Ventures additionally becoming a member of the spherical. That is the primary time Zoomo has secured strategic funding, and marks the potential for future benefitial partnerships and initiatives, significantly in Latin America and Japan – Wind is the enterprise capital arm of COPEC, one in every of LatAm’s largest vitality and forestry firms, and MUFG is the company VCarm of Mitsubishi UFJ Monetary Group’s Open Innovation Technique.

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