Global utility e-bike innovator Zoomo accelerates growth by adding an additional $20 million to its Series B funding round
- The capital raise was led by leading US collaborative fund VC, with strategic investors MUFG Innovation Partners, SG Fleet, Akuna Capital and WIND Ventures also joining the round.
NEW YORKFeb. 212022 /PRNewswire/ — Zoomthe global leader in last-mile electric delivery vehicles, today announced a $20 million in addition to its Series B funding round to further disrupt the logistics space and shift every mile of urban delivery to light electric vehicles (LEVs). The additional funds bring the total funding raised to date to more than US $100 milliona combination of equity and debt.
Collaborative fund led the round as a new investor. The collaborative is a new York venture capital based fund that has invested in household names such as Lyft, Whoop and Beyond Meat. Additionally, the round was joined by strategic investors, including the VC arm of Mitsubishi UFJone of from Japan large conglomerates; SG Fleet, australia leading provider of integrated mobility solutions; Wind companiesthe VC arm of COPEC, one of the Latin America the most forward-thinking energy and mobility companies; and Capital Akunaa leading commercial company with an active venture capital arm offering patient capital to technology and technology-focused companies.
The contribution of strategic investors is a first for Zoomo and marks the start of a number of partnerships and initiatives beneficial to the company in several international markets.
Since the company was founded in 2017, Zoomo has expanded its operational presence to 16 cities in 6 countries around the world. Zoomo’s unique fleet management and delivery solutions have enabled the company to successfully supply its vehicles (electric bicycles, electric mopeds) to on-demand workers and large fleet operators in the open-air delivery space. last mile boom.
In 2021, Zoomo was globally multiplied by 4 in the world and launched in 3 new countries. Zoomo’s corporate business has also grown 20x globally.
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Zoomo will use the additional funds to deepen its investments in core technologies, including new automotive products and next-generation software. Additionally, the investment will help accelerate Zoomo’s expansion into new cities and countries and provide exciting recruitment opportunities across the company globally.
Mina Nadaco-founder and CEO of Zoomo, said: “2021 has been a transformational year for Zoomo as we’ve seen businesses and fleet managers, in addition to on-demand workers, benefit from our innovative platform. 2022 is the year we kick things into high gear. The excess Series B+ funding will allow us to grow more aggressively across the world, and ultimately put more efficient, safe and clean transportation solutions on our roads.”
“At Zoomo, we see a world over the next decade where every last mile delivery will be made on a light electric vehicle supported by the Zoomo ecosystem. Our investors will help us take the next step to make it a reality.
Craig ShapiroFounder and Managing Director of Collaborative Fund, said: “We are thrilled to partner with the Zoomo team. Delivering small packages and meals in a four thousand pound vehicle is inefficient and costly, both for customers and the environment. Zoomo is simply better for all stakeholders. Electric bikes are just the beginning of Zoomo’s vision to power the future of logistics. We look forward to seeing more Zoomo vehicles in the cities around us.”
The financial support underscores widespread investor support for Zoomo’s vision to build safer, more efficient and cleaner cities where VELs are accessible to all. By offering a one-stop-shop for fleet management and delivery solutions that integrates vehicles, software, maintenance and financing, Zoomo makes it easier for delivery companies and couriers to adopt a green alternative.
Zoomo is a full-service utility micromobility platform founded by Mina Nada and Michael Johnson, with a mission to make global delivery fleets electric using e-bikes. Zoomo’s vertically integrated platform includes delivery-oriented custom e-bikes, a physical service and maintenance network, a software platform for asset management and telematics, and a financing offering. Zoomo currently operates in Australia, United Statesthe UK and Europe.
Zoomo vehicles are used by major players in the on-demand food and grocery delivery segment including UberEats, Doordash, JustEat Takeaway, Deliveroo, Domino’s, Pizza Hut, Gopuff, Gorillas, Getir, JOKR, Zapp, Weezy , Dija, Milkrun, Cajoo and Suite.
About the Collaborative Fund
With over $500 million in assets under management, Collaborative Fund is a major source of capital and strategic support for entrepreneurs moving the world forward. As an early investor in Beyond Meat, Dandelion Energy, Good Eggs, Gumroad, Lovevery, Lyft, Sweetgreen, Upstart and Whoop, Collaborative Fund and its portfolio companies benefit from the community and shared lessons of our network.