Tallinn-founded startup Taxify has announced its rebranding to Bolt, which is also the brand it’s been using for its electric scooter sharing platform. The company stated that removing the “taxi” from its name reflects that it’s moved towards becoming a broader transportation platform.
Currently, Bolt’s offering includes ride-hailing with cars and motorbikes, as well as the e-scooter sharing. The startup says that more than 25 million people across 30 countries are using its app.
TechCrunch also reports that the rebranding to Bolt coincides with the company starting to look for the next funding round. Less than a year ago, then-Taxify raised $175 million led by the German carmaker Daimler, with participation with “China’s Uber” Didi Chuxing.
If anything, the ride-hailing startup’s new name is certainly less unique than the old one, even though it better reflects the company’s vision and ambition. In July last year, a Dutch e-scooter (as in, moped) company used to be known as Bolt Mobility rebranded as Etergo citing “legal reasons” it never elaborated on. It is certain, however, that the Estonian Bolt has a bigger war chest to settle potential trademarking issues.