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Micromobility subscription service Zoomo raises $60 million in funding

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Australian micromobility subscription service Zoomo has secured $60 million in a funding round led by new investor Grok Ventures.

Zoomo is a leader in the development of electric last-mile delivery devices (including e-bikes, e-cargo bikes, and e-mopeds), offering fleet management and delivery solutions for businesses and gig workers.

The firm will use the funds to expand its operations into new cities and countries, deepen software integration with its customers, finalise the development of its next-generation vehicles, and deliver on its goal of electrifying commercial delivery fleets.

With a presence in Australia, the US, and Europe, Zoomo has clients including Domino’s, while also partnering with gig workers through platforms such as DoorDash on a weekly subscription basis.

The funding round was led by Grok Ventures, with Skip Captial and ArcTern Ventures also involved.

“As countries all around the world grapple with achieving net-zero carbon emissions, they are realising that electrifying cars is only part of the answer,” CEO Mina Nada said.

“We need more efficient and sustainable form factors – lightEVs. Delivery companies are re-evaluating their fleet composition and are embracing the power of the pedal to marry cost efficiencies with environmental sustainability.

“Today’s funding round underscores the tremendous potential of Zoomo e-bikes for delivery use. Zoomo is excited to bring on some world-leading investors like Grok, ArcTern and Skip Capital to support our incredible growth and share in our vision to make e-bikes the default way of moving things around our cities.”

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