Australia’s Zoomo raises an additional A$27m for e-bikes and light electric vehicles

Zoomo, a Sydney-based micromobility and e-bike company, announced this week that it had raised an additional $20m (AUD$27m) to be used to further accelerate business growth and ‘disruption’ of the global last mile delivery and logistics industry. .

The latest $20 million funding round follows the $60 million the company raised in its Series B funding in November. Currently, Zoomo has raised a total of $100 million in equity and early stage capital to fund its growth.

“At Zoomo, we see a world in 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 this a reality,” says Mina Nadaco-founder and CEO of Zoomo.

“2021 has been a transformational year for Zoomo as we have seen businesses and fleet managers, in addition to gig workers, benefit from our innovative platform. 2022 is the year we step up.

This latest funding round was led by a new investor, Collaborative Fund, a New York-based venture fund that has already made a name for itself investing in Lyft, Whoop and Beyond Meat.

Besides 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 of COPEC, one of Latin America’s most forward-thinking energy and mobility companies; and Akuna Capital, a leading trading company.

Source: Zoomo

The investment from strategic investors marks a first for Zoomo, which it hopes will herald a number of beneficial partnerships and initiatives in a number of global markets.

“We are delighted 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,” said Craig Shapiro, Founder and Managing Director of Collaborative Fund.

“E-bikes are just the beginning of Zoomo’s vision to power the future of logistics. We can’t wait to see more Zoomo vehicles in the cities around us.

Zoomo’s latest capital raise comes just over two months after the company launched its most capable electric utility bike to date, the Zoomo One, designed to supplant gas-powered mopeds for last-mile delivery.

Zoomo offers three electric bikes specially designed for urban last mile delivery – Sport, Zero and Classic – which are available on three subscription plans – Lite, Plus and Pro.

The bikes, which offer over 7 hours of battery life and a maximum top speed of 25mph (approximately 40kph but limited to the legal speed of 25kph in Australia) are custom-built for the delivery of the latest mileage and, combined with Zoomo’s subscription plans, make Zoomo bikes a perfect option for all kinds of delivery services. The company also offers a Zoomo One which can be driven at a speed of 45 km/h but is not available in Australia.

This article has been updated to correct details regarding the plans and bikes offered by Zoomo, and their speed limits.

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