Sydney-headquartered micromobility and e-bike company Zoomo announced this week that it has raised a further $US20 million ($A27 million) to be used to further accelerate the company’s growth and ‘disruption’ of the global last-mile delivery and logistics sector.
The latest $US20 million raised follows on the heels of the $60 million the company raised as part of its Series B funding back in November. Currently, Zoomo has raised a total of $100 million worth of both equity and debut to fund its growth.
“At Zoomo, we see a world within the next decade where every last-mile delivery will be completed on a light electric vehicle supported by the Zoomo ecosystem. Our investors will help bring us one step closer to making this a reality,” said Mina Nada, co-founder and CEO at Zoomo.
“2021 was a transformative year for Zoomo, as we saw enterprises and fleet managers, in addition to gig-workers, benefit from our innovative platform. 2022 is the year we take the business up a gear.
This latest funding round was led by a new investor, Collaborative Fund, a New York-based venture capital fund that has already made a name for itself having invested in Lyft, Whoop, and Beyond Meat.
In addition to Collaborative Fund, other investors included the VC arm of Mitsubishi UFJ; SG Fleet, Australia’s leading provider of integrated mobility solutions; WIND Ventures, the VC arm for COPEC, one of Latin America’s most forward-leaning energy and mobility companies; and Akuna Capital, a leading trading firm.
The investment from strategic investors marks a first for Zoomo, which the company hopes will presage a number of beneficial partnerships and initiatives across a number of global markets.
“We’re thrilled to be partnering 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,” said Craig Shapiro, founder and managing director at Collaborative Fund.
“E-bikes are just the beginning in Zoomo’s vision towards powering the future of logistics. We can’t wait to see more Zoomo vehicles in the cities all around us.”
Zoomo’s latest capital raise follows just over two months after the company launched its highest performance utility e-bike yet, the Zoomo One, designed to supplant petrol mopeds for last-mile delivery.
Zoomo offers three electric bicycles designed specifically for urban last-mile delivery – the Sport, Zero, and Classic – which are available on three subscription plans – Lite, Plus, and Pro.
The bikes, which boast upwards of 7 hours of battery life and a maximum top speed of 25mph (about 40km/hr but limited to the legal speed of 25km/hr in Australia) are tailor-made for last-mile delivery and, combined with Zoomo’s subscription plans, make Zoomo bikes a perfect option for all manner of delivery services. The company also offers a Zoomo One which can be ridden at speeds of 45km/hr but is not available in Australia.
This article has been updated to correct details regarding the plans and bikes on offer from Zoomo, and their speed limits.
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.