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

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

In November, the company raised $60 million in equity and debt for its Series B, which it used to fund additional software program growth and extra autos to develop. The extra funds, which deliver Zoomo’s complete funding as much as $101.5 million, will probably be used for a lot of the identical objective, particularly hiring extra group members globally and investing into additional fleet and automobile administration choices for each mechanics and prospects, in addition to creating an finish rider app, Mina Nada, co-founder and CEO at Zoomo, informed TechCrunch.

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

Zoomo presents 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 assist. Usually these costs may be cheaper if a gig employee is signing up by 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 prospects 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 record simply final yr. 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 yr 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 yr we take the enterprise up a gear…At Zoomo, we see a world inside the subsequent decade the place each last-mile supply will probably be accomplished on a light-weight electrical automobile supported by the Zoomo ecosystem. Our buyers will assist deliver us one step nearer to creating this a actuality.”

The elevate was led by Collaborative Fund, with strategic buyers 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, considered one of LatAm’s largest power and forestry firms, and MUFG is the company VCarm of Mitsubishi UFJ Monetary Group’s Open Innovation Technique.

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