Bird has confirmed it’s acquiring the German-based scooter company Circ.
Based in Berlin, Circ was founded in 2018 by Lukasz Gadowski and was starting to build a name for itself across Germany. However, the company has been struggling with funding in recent months, after drying out its €55 million raised at the start of 2019.
To make matters worse, national rival Tier had raised $60 million towards the end of 2019, alongside European challengers such as Wind and Voi, which put even more pressure on the brand.
In short, investors are losing patience with Circ, which could signal the end of the road for Circ in the challenging micro-mobility market.
However, this doesn’t mean that the other companies mentioned are doing much better in terms of profitability. But their latest funding does mean they have more time than Circ.
Like Bird, there will be many of the large mobility companies keeping an eye on struggling startups in the market, in the hope of buying them on the cheap.