Aussie e-bike startup Zoomo are zooming to the moon after this latest funding round.
Background: Zoomo are an Aussie e-bike startup that launched back in 2017 as 'Bolt Bikes'. Fast-forward to 2020, and 'Bolt Bikes' becomes Zoomo, a micromobility e-bike subscription company.
What happened: Zoomo is half B2B (i.e. they offer fleets of electric bikes and software to business customers) and half B2C (i.e. gig workers can rent bikes directly).
What else: The company have just received a massive $80 million in funding. They plan to use the funds to expand outside of Australia. Think: Spain, France, Germany and the US.
💡Micromobility is short-distance transport (aka, anything that's less than 5 kilometres usually). And the micromobility revolution is here, Flux fam.
💡As congestion in cities rises due to rising populations, existing transportation (aka cars, buses and trains) can't keep up. As a result, we've seen shared bikes and scooters take over metropolitan areas.
💡In the US alone, the micromobolity industry is expected to be worth between US$200 billion and $300 billion by 2030.
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