Total amount raised
$41.4 Millions
Latest funding date
03/01/2022
Location
Bolt Mobility has successfully raised significant funding through various rounds, including a recent €220 million credit facility in preparation for an IPO. The company is focused on providing smart, safe, and sustainable transportation solutions through its range of shared e-scooters, e-bikes, and e-mopeds.
With backing from notable investors such as Ram Charan and the Metropolitan Transportation Commission, Bolt Mobility is poised for continued growth in the micromobility sector. Keep reading to explore the intricacies of Bolt Mobility's fundraising journey and the investors backing this innovative platform.
What Is Bolt Mobility?
Bolt Mobility, founded in 2018, is a transformational personal transportation company headquartered in Miami Beach, Florida. The company operates within the Information Technology and Transportation industries, focusing on providing smart, safe, and sustainable transportation solutions through its range of shared e-scooters, e-bikes, and e-mopeds.
Co-founded by Kamyar Kaviani, Sarah Haynes, and Olympic Gold Medalist Usain Bolt, the company employs between 51-100 people. Bolt Mobility partners with municipalities, universities, and local ownership to integrate sustainable transportation into communities, enhancing access, equity, and quality of life.
How Much Funding Has Bolt Mobility Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Venture Round
- Amount Raised: $10.4M
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market presence and enhance its technology infrastructure.
- Series A
- Amount Raised: $30M
- Date: March 2020
- Lead Investors: Fuel Venture Capital
- Valuation at Round: $100M
- Motivation Behind the Round: To revolutionize transportation by providing simple, safe, and sustainable solutions.
- Grant
- Amount Raised: $1M
- Date: June 2021
- Lead Investors: Metropolitan Transportation Commission
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of sustainable transportation solutions.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: Ram Charan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate transportation sustainability efforts and prepare for an IPO.
Total Amount Raised: $41.4M
Current Valuation: Not publicly disclosed
Key Investors
- Ram Charan
- Details: Ram Charan is an Indian company involved in various sectors, including chemicals and plastics. They have made an undisclosed investment to support Bolt's sustainability efforts and technological advancements in transportation.
- Investment Focus Areas: Transportation sustainability, advanced battery technology, energy-efficient materials, IoT smart transportation devices
- Notable Investments: Not publicly disclosed
- Metropolitan Transportation Commission
- Details: The Metropolitan Transportation Commission is a regional transportation planning agency in the San Francisco Bay Area. They have invested in Bolt Mobility to support the development of sustainable transportation solutions.
- Investment Focus Areas: Regional transportation planning, sustainable transportation, infrastructure development
- Notable Investments: Not publicly disclosed
- Fuel Venture Capital
- Details: Fuel Venture Capital is a venture capital firm that invests in early-stage technology companies. They have invested $30M in Bolt Mobility to help revolutionize transportation.
- Investment Focus Areas: Technology, transportation, sustainability
- Notable Investments: Not publicly disclosed
- Japanese Consortium
- Details: The Japanese Consortium includes Bolt’s partner IPD and other Japanese investors. They are investing to support manufacturing, IoT, technology development, and expansion in Japan.
- Investment Focus Areas: Manufacturing, IoT, technology development, transportation
- Notable Investments: Not publicly disclosed
What's Next for Bolt Mobility?
As Bolt Mobility looks to the future, the company is poised to capitalize on significant opportunities in the transportation sector. With the introduction of advanced technologies like solid-state batteries and energy-efficient materials, Bolt Mobility aims to revolutionize urban transportation. The expansion into new markets such as India, Latin America, and Japan presents a vast potential for growth, allowing the company to replace small fossil-fuel engines with electric vehicles, thereby reducing emissions and noise pollution.
Future fundraising efforts are likely to continue, with the current B Round of funding already attracting international investors. This financial backing will support the development of next-generation IoT smart transportation devices, enhancing urban connectivity and efficiency. However, Bolt Mobility may face challenges such as technological hurdles in scaling new innovations and navigating regulatory landscapes in different markets. Despite these obstacles, the company's commitment to sustainability and technological advancement positions it well for continued success.
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