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Bolt Bikes Raises $11 Million, Rebrand to Zoomo

25Aug By NitishNo Comments

FUNDING

Bolt Bikes Raises $11 Million, Rebrand to Zoomo

NEW YORK, 24th Aug 2020-- Bolt Bikes, the mobility startup raises USD $11 million to invest in expanding its operations in the United States and move into new categories globally. Along with the capital raise, the Australia-based startup is also announcing a rebrand with a new name, Zoomo, and a new logo. The Australian Clean Energy Finance Corporation (CEFC) led the capital raise with a USD $5 million equity investment. Equity investment from Hana Ventures and existing investors Maniv Mobility and Contrarian Ventures, together with venture debt from OneVentures and Viola Credit, completed the capital raise. Zoomo will use the capital to launch a flagship brick-and-mortar operation in Los Angeles and expand its New York footprint to include services across the entire city. The s...

Yulu Raises $8 Mn Funding from Bajaj Auto

Shared e-mobility service provider Yulu has secured $8 million (approximately Rs 57.2 crore) investment from two-wheeler major Bajaj Auto. As part of the tie-up, Yulu will source electric two-wheelers from Bajaj Auto which have been co-designed and manufactured exclusively for shared micro-mobility, Yulu said in a statement. Bajaj Auto will also consider facilitating vehicle finance needs of Yulu for a large-scale deployment of its micro-mobility electric vehicles, it added. “We believe that… congestion reduction and pollution control will drive the segment of shared micro-mobility in the future,” Bajaj Auto Managing Director Rajiv Bajaj said. That, coupled with the expansion of mass rapid transport systems like Metro in large cities, will further boost the demand for flexible...

Micromax co-founder Launches a new electric bike venture

India's leading handset maker Micromax co-founder Rahul Sharma launch a new electric motorcycle which is expected to hit the roads by June this year. Sharma has set up Revolt Intellicorp Pvt Ltd, a firm wholly owned by him with a view "to make personal mobility practical, affordable and sustainable". He is investing total around Rs 500 crores in this venture. Headquartered in Gurugram, Revolt Intellicorp has a manufacturing facility in Manesar, Haryana. Spread over 1 lakh square feet, the facility boasts a production capacity of 1.2 lakh vehicles per annum for first phase. "I always wanted to get into the smart mobility sector. I had even met many global players to foray into the segment. During this period I even considered investing in some of the existing companies that were...