Bond Mobility, a Palo Alto-based speed eBike mobility service founded in 2017 by CEO Raoul Stockle, CBO Kirt McMaster, Corinne Vogel, CTO Nick Mueller and CSO Horace Dediu, announced recently that it has closed a $20 million series A funding round led by Ininvest and automotive technology supplier DENSO’s New Mobility Group based out of the company’s headquarters in Japan.
DENSO’s investment in Bond was strategic as the auto supplier is planning to use Bond’s technologies to accelerate the development of its Mobility as a Service (MaaS) model.
Bond’s eBikes hit top speeds of 30 MPH with average trips of four miles compared to conventional micromobility services — which usually cover distances of about 1.5 miles. This means that Bond is a true car replacement and is the fastest form of transport for urban journeys under six miles.
“At Bond, we have big ideas about the possibilities of small vehicles, and we are thrilled a top-tier auto supplier recognizes that as well and has made such a major investment in our company,” said Stockle.
DENSO — which is a $48.1 billion global mobility supplier — said it is committed to reducing CO2 emissions by half with technologies that resolve problems with global warming, energy, and resource issues. Micromobility is one of the solutions to the problem as heavy traffic congestion in urban areas around the world is one of the largest shares of greenhouse gas emissions. Micromobility has been defined as urban transportation solutions that cover short distances and includes scooters, docked bikes, and eBikes.
“While DENSO is certainly concerned about the projected future decline of new car sales in the United States, we are also very excited about the growth possibilities offered by the new types of mobility that are being pioneered by startup companies around the world,” added DENSO’s Director of Corporate Ventures Tony Cannestra. “While micromobility is a fairly new concept for the transportation industry, its potential value to urban environments is undeniable, and it is an area we are excited to support through an investment in Bond Mobility. With the rise of smart cities and countries focusing on reducing environmental harm, Bond Mobility has the capabilities to provide people with easy and safe short-range transportation options, enabling DENSO to help achieve its goal of drastically reducing CO2 emissions.”
Bond currently operates its eBike service in Zurich and Bern, Switzerland. And Bond is able to provide wide-ranging utility in an urban environment while easily fitting into local bicycle regulatory requirements. Plus it is considered safer and more efficient than other sharing services available.
“Through our partnership with DENSO and Ininvest, we’ll be able to bring our services to more citizens, cities and markets in the United States and abroad. High-performance micromobility is a revolution in urban transportation and DENSO sees this as the future,” explained McMaster.
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