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Mahindra Group Invested in US Based Scoot Networks

28Jun By PriyankaNo Comments

FUNDING

Mahindra Group Invested in US Based Scoot Networks

Mahindra Partners, an entity of USD 900 million Mahindra groups private equity arm, today announced closing of a new round of funding in Scoot Networks, an urban mobility solutions provider based in San Francisco. With this deal, Mahindra Partners has now joined other investors including Vision Ridge Capital. This financing round closes simultaneously with Scoots significant network expansion supported by a brand new fleet of 500 Mahindra GenZe electric scooters, Mahindra Group said in a statement. Mahindra Group Chairman Anand Mahindra said, the partnership will provide a sustainable solution to the growing challenges associated with urban commuting like parking, congestion and pollution. "The GenZe 2.0 is designed to intelligently address these challenges by offering relevant and...

SCOOT, San Francisco Based Electric Scooter Maker Hits 1 Million Miles

SAN FRANCISCO, CA – Scoot has reached 1,000,000 miles in San Francisco today. Thousands of members have taken thousands of rides over the past 3.5 years. Scoot launched to the public in September 2012, with just 35 scooters & 5 locations. Each year, Scoot has expanded its reach and availability for residents of the City by the Bay. San Francisco is, as we know, 7x7 so scooting one million miles is like riding from SOMA to Ocean Beach 142,857 times. More importantly, if every one of those million miles had been in a car or taxi, instead of on an electric scooter, there’d be an additional 1.2 million pounds of CO2 in the atmosphere. But there isn’t! Instead, our community rode one million electric miles on two wheels, thousands of times. ALSO READ: Scoot Quad – San Francisco’s ...

Scoot Quad – San Francisco’s New Way To Ride Around The City

Today, San Franciscans have a new way to ride around the city with the addition of 10 all-electric Nissan New Mobility Concept vehicles to the Scoot Networks mobility service. The Nissan New Mobility Concept, also known as a Scoot Quad, is a 100 percent electric, two-seater compact vehicle with a range of 40 miles and top speed of 25 mph—perfect for driving in urban areas. “As large cities continue to grow into megacities globally, we need to understand how transportation is changing and look ahead to anticipate what transportation needs will look like in the future,” said Rachel Nguyen, executive director, Nissan Future Lab. “Scoot Networks is an ideal partner in this research project because they are fulfilling a need that has emerged in the San Francisco market, and th...