Global e-bike innovator Zoomo raises $12m funding
Australian-born e-bike innovator Zoomo, announces today it has secured $12m from existing and new investors, led by top tier Australian VC, AirTree, as they expand into new markets and invest in further innovation of its commercial use electric bike platform.
AirTree Ventures led the capital raise as a new investor, with strong follow-on support from existing investors, the Clean Energy Finance Corporation (CEFC), Maniv Mobility and Contrarian Ventures, with new mobility and cleantech focused US investors Winthrop Square and Wisdom VC joining the round.
The newest round of funding follows a $11m Series A raise announced in August 2020, led by the CEFC. Cumulatively, Zoomo has raised $26m in the past 24 months.
Zoomo will use the funds to invest in the development and production of the brand’s next generation vehicle offerings as well as supporting global expansion to satisfy customer demand. Zoomo has had success supplying its vehicles to large fleet operators in the last mile delivery space and is seeing its fleet rapidly expand beyond 10,000 units globally.
Jackie Vullinghs, Principal at AirTree Ventures said: “Supported by regulatory and cultural tailwinds, Zoomo is accelerating the electrification of global transport, starting with last mile delivery. Their full stack offering from e-bikes and e-mopeds to finance, servicing and fleet management makes it easy for global food, grocery and logistics businesses to choose carbon neutral.”
Partnership with Deliveroo and Just Eat Takeaway
Zoomo has announce a number of new customer wins in the enterprise space, including up and coming on-demand grocery delivery companies, Getir, Gorillas and Dija, as well as Just Eat Takeaway. Zoomo also has a long-standing partnership with UberEats and Deliveroo, helping its riders’ access safe, affordable and efficient e-bikes.
Just Eat Takeaway spokesperson said: “At Just Eat Takeaway.com, we want to build a sustainable future for food delivery, and are committed to doing our bit to help keep carbon emissions to a minimum, as well as providing an efficient customer experience from order to delivery. E-Vehicles are an integral part of the Scoober model and we are pleased to work in cooperation with Zoomo.”
Andy Batty, Director Of Operations UKI, Deliveroo said: “At Deliveroo we care deeply about protecting the environment and reducing our carbon footprint. That is why we are delighted to partner with Zoomo and give riders the opportunity to rent one of their fantastic electric bikes at a discounted rate. We know that riders are keen to make the switch to e-vehicles so this will be hugely welcome. This partnership is another important step towards delivering a low-carbon, sustainable future.”
Kristen Adamowski, US Head of Rider Ops, Gorillas said: “Electrifying the last mile is important to achieving the core Gorillas’ mission. Delivering groceries in 10 minutes or less means we need to be fast and agile. To grow in an environmentally sustainable way, we power our business primarily through bicycle delivery. And e-bikes enable both speed for our customers and satisfaction for our riders, who use them every day.”