Bolt Mobility Corporation, a mobility start-up co-founded by Olympic Gold Medallist Usain Bolt, is expanding its footprint to include 48 additional markets, including 18 university campuses, throughout the U.S. The expansion is a result of Bolt’s acquisition of assets from Last Mile Holdings Ltd. including Gotcha and OjO Electric.
With the acquisition, which was funded in part by Fuel Venture Capital, Bolt can now offer micromobility solutions in over 50 U.S. markets.
A number of former Gotcha and OjO employees will be joining the Bolt team, including Gotcha’s former Chief Operating Officer, Matt Tolan. He will be Bolt’s new Chief Commercial Office.
Usain Bolt says: “We founded Bolt because we believe in micromobility as a movement that can transform the way people live and move within their communities. This expansion proves that anything is possible for micromobility when you support it with talented people, innovative technology, and the incredible work ethic of the Bolt team.”
Bolt CEO, Ignacio Tzoumas, adds: “This was a perfect fit. This acquisition allows us to dramatically expand our footprint across the U.S. We are excited to launch the Bolt platform in these new locations and to empower local partners to expand the interconnectivity of cities and universities with multi-modal micromobility solutions.”
Matt Tolan comments: “I am thrilled to be joining Bolt, as we share a commitment to strengthening communities through the power of micromobility. We can’t wait to get to work enhancing our current partnerships and expanding our micromobility offerings throughout the U.S. and around the world.”
In 2020, Bolt raised $30 million in Series A funding and expanded its services to 300,000 users.