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Utility e-bike manufacturer Zoomo has raised $20 million in Series B funding.

This additional funding adds to the more than $100 million it has raised so far. Zoomo is planning to use this new Series B funding to “deepen its investment in core technologies,” including new vehicle products and next-generation software. 

The investment will also help Zoomo expand into new cities and countries, as well as open up the possibility to expand its team. Zoomo is currently active in cities across the UK, Australia, the USA, and in Paris.

“2021 was a transformative year for Zoomo, as we saw enterprises and fleet managers, in addition to gig-workers, benefit from our innovative platform. 2022 is the year we take the business up a gear. The series B+ surplus funding will enable us to grow more aggressively across the globe, and ultimately put more efficient, safe and clean transport solutions on our roads,” says Mina Nada, co-founder and CEO of Zoomo.

“At Zoomo, we see a world within the next decade where every last-mile delivery will be completed on a light electric vehicle supported by the Zoomo ecosystem. Our investors will help bring us one step closer to making this a reality.”

Zoomo grew its operations four times over in 2021 and launched in three new countries. Zoomo’s enterprise business also “grew 20X globally.” 

“We’re thrilled to be partnering with the Zoomo team,” says Craig Shapiro, founder and Managing Director at Collaborative Fund, which led the investment round.

“Delivering small packages and meals in a four-thousand-pound vehicle is inefficient and costly – both for customers and the environment. Zoomo is simply better for all stakeholders. E-bikes are just the beginning in Zoomo’s vision towards powering the future of logistics. We can’t wait to see more Zoomo vehicles in the cities all around us.”

Zoomo’s fleet management and delivery solutions have allowed the business to successfully supply its vehicles (e-bikes, e-mopeds) to both gig-workers and large fleet operators in the burgeoning last-mile delivery space.

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