Photo credit: Bloom
Micromobility vertical integration partner Bloom has joined forces with motorcycle importer Emoto to acquire CAKE’s US assets using a hybrid business model.
The partnership comes just weeks after the Swedish electric motorcycle maker filed for bankruptcy because it was unable to secure $7.6 million in Series C funding.
Bloom, based in Michigan, will support Emoto in warehousing the vehicles and providing logistics and transport across the country, after Emoto’s Managing Partner Michael Joyce bought the remainder of CAKE’s US assets in an effort to keep the Swedish startup alive.
“At Bloom, we believe in the CAKE products and want the brand to continue to live on,” Bloom President and Co-Founder Justin Kosmides told Zag Daily.
“Given the sensitivity of the current bankruptcy proceedings we don’t want to speculate on the outcome but are in a position to support CAKE and Emoto’s future efforts when the time comes.”
Bloom’s capabilities will also extend to knock-down kit assembly (preparing the parts required for the assembly of the product) and contract manufacturing.
It is anticipated that Bloom’s platform will support CAKE in minimising costs, while streamlining its operations using the hybrid business model with Emoto.
Bloom CEO and Co-Founder Chris Nolte told Zag: “The Bloom platform provides brands with a more flexible option for many of the expensive pain points in their current operations. Bloom aggregates the demand for services and can offer a lower operating cost.”
CAKE is one of more than 30 brands that Bloom has begun working with to operate more efficient business models in the mobility industry.
