The rapid delivery market (<30 mins) continues to grow at an exponential rate globally, with consumer expectations for delivery shortening by the minute.
Cashing in on the trend, Aussie electric last-mile delivery vehicle company Zoomo, which operates in Australia, the U.S., the U.K. and Europe, has raised $20 million. The round was led by New York based VC fund Collaborative Fund, which has made investments in household names such as Lyft, Whoop and Beyond Meat. It also saw the participation of strategic investors, including the VC arm of Mitsubishi UFJ; SG Fleet, Australia’s leading provider of integrated mobility solutions; WIND Ventures, the VC arm for COPEC, one of Latin America’s most forward-leaning energy and mobility companies; and Akuna Capital, a leading trading firm with an active venture arm offering patient capital to tech and tech-enabled companies.
The additional funds bring the total funding raised to date to over $100 million, a combination of both equity and debt.
The platform will use the new funding to deepen investment in core technologies, including new vehicle products and next-generation software. Furthermore, it will help accelerate the platform’s expansion into new cities and countries and enable exciting opportunities for recruitment across the business globally.
The company has expanded its operational presence to 16 cities in 6 countries across the world. Its unique fleet management and delivery solutions have allowed the business to successfully supply its vehicles (e-bikes, e-mopeds) to both gig-workers and large fleet operators in the burgeoning last-mile delivery space. In 2021, the startup grew 4X globally and launched in 3 new countries.
Mina Nada, co-founder and CEO at Zoomo, said: “2021 was a transformative year for Zoomo, as we saw enterprises and fleet managers, in addition to gig-workers, benefit from our innovative platform. 2022 is the year we take the business up a gear. The series B+ surplus funding will enable us to grow more aggressively across the globe, and ultimately put more efficient, safe and clean transport solutions on our roads.”