Last mile transportation has become a global phenomenon in recent years. It seems like every major city has a bike sharing or e-scooter service program set up. Berlin-based e-scooter company Wind Mobility announced it has raised €19.2 million in a seed round of funding from China-based Source Code Capital and Germany-based HV Holtzbrinck Ventures.
“The investment allows us to push forward our global expansion plans; with the support from our investors, we can leverage our deep experience in mobility solutions towards becoming a leading actor in the urban mobility segment,” said Wind CEO Eric Wang.
Wind Mobility is not the only European e-scooter company that raised funding recently. Sweden-based e-scooter company VOI Technology raised $50 million in Series A from Balderton Capital, Vostok New Ventures, LocalGlobe, Raine Ventures, and several angel investors about a week ago. And Germany-based e-scooter company Tier Mobility raised €25 million last month.
Wind’s dockless scooters can be unlocked, parked, and paid for using a mobile app. And the price starts at €1 to use it. This business model is similar to other e-scooter companies.
Wind’s e-scooters have replaceable batteries so they do not have to be collected at night and charged externally, which means it has lower maintenance costs than its rivals. Plus Wind is going to use over-the-air updates to update the scooters remotely.
Wind offers its e-scooters in Madrid, Paris, Bordeaux, and Lisbon. And Wind’s e-bike service BYKE is available in Germany. The company is planning to expand to more cities internationally with this round of funding. For example, Wind is planning to aggressively expand in the US.
“Wind convinced us with its excellent product development and operational strength: in just a few days they will be able to build a new mobility infrastructure in cities. With the strong support of high-caliber international investors, the company can now exploit these strengths globally,” added HV Holtzbrinck Ventures investment manager Fabian Gruner.
