e-bike Maker Zoomo Raises $60M

Zoomo, announced it has secured a USD $60 million capital raise led by Australian VC Grok Ventures, to accelerate its goal to transition every urban delivery mile to light electric vehicles (e-bikes, e-cargo, e-moped).

November 16, 2021. By News Bureau

Zoomo, announced it has secured a USD $60 million capital raise led by Australian VC Grok Ventures, to accelerate its goal to transition every urban delivery mile to light electric vehicles (e-bikes, e-cargo, e-moped).

Zoomo is the only light electric vehicle company in the world that provides a one-stop shop of fleet management and delivery solutions, integrating vehicles, software, servicing and finance to provide an innovative end-to-end platform.

Grok Ventures led the equity raise as a new investor. Grok is the investment office of Atlassian Co-Founder Mike Cannon-Brookes and his wife Annie.

Grok was joined by Skip Capital, the investment office of Atlassian's other Co-Founder Scott Farquhar, as well as global CleanTech investor, ArcTern Ventures.

The Series B round was heavily oversubscribed and saw strong follow-on support from existing investors, AirTree Ventures, the Clean Energy Finance Corporation (CEFC), Contrarian Ventures and Maniv Mobility.

The round was also supported by a ground-breaking asset backed debt facility for e-bikes, built and provided by long term partners Viola Credit and OneVentures.

Viola Credit is part of Viola Group, which is Israel's leading tech-focused investor with >$3 billion in assets under management. The debt facility will allow Zoomo to supercharge its customers' growth, by removing the need for upfront, lump-sum payments on bikes and instead allow them to pay a monthly subscription fee.

The facility is highly scalable giving Zoomo room to rapidly grow its fleet.

Alberto Menolascina, General Manager UK at Gopuff said, "Our Zoomo e-bike fleet is critical to enabling our rapid grocery delivery promise. Not only have we found Zoomo the most advanced partner for enabling our vehicle scale-up, but the bikes are the favorites among our couriers as well."

Zane Zappacosta, Domino's Franchisee said, "At Domino's, our delivery service is fuelled by innovation, technology and a commitment to sustainability. By adopting Zoomo e-bikes we are committing to a more sustainable delivery fleet, one that reduces our environmental footprint while helping to drive internal efficiencies like lowering service costs and broadening our hiring pool."

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