Zoomo Funding, Investors & Competitors

Zoomo has raised $121M across 6 funding rounds, most recently a $16M undisclosed-stage round in May 2023.

See full Zoomo profile

Last Zoomo funding round

$16M

Undisclosed stage · May 2023

Cumulative funding Zoomo raised

$121M

across 6 funding rounds

Key investors in Zoomo

  • Maniv Mobility
  • Clean Energy Finance Corporation
  • Contrarian Ventures
  • Airtree Ventures
  • Hana Ventures
  • Grok Ventures
  • Collaborative Fund
  • Skip Capital

Zoomo Overview

About Zoomo

Zoomo is a Sydney-headquartered subscription service for electric bikes targeting food delivery gig workers in Australia and Europe. Launched in 2017, it offers e-bikes, e-mopeds, and e-cargo models with maintenance, insurance, and battery swaps included in weekly plans. Expanding to parcel and grocery deliveries, the fleet numbers thousands across cities like London, Paris, and Melbourne.


Founded

2017

HQ

AustraliaSydney

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Zoomo Funding History

Zoomo has raised a total of $121M across 6 funding rounds.

Zoomo's first fundraising round was a $3M seed round in November 2019. The most recent completed round was a $16M undisclosed-stage round in May 2023.

Zoomo funding rounds

Zoomo funding rounds
DateStageInvestorsRaisedDeal Summary
May 2023Undisclosed stageGrok Ventures (lead); Clean Energy Finance Corporation (lead)$16MZoomo raised A$24 million in equity from existing backers, in a round led by Grok Ventures and the Clean Energy Finance Corporation that was reported on 2 May 2023. The funding was intended to give the electric delivery bike company enough runway to reach profitability over the following 12 months. The raise came weeks after the collapse of its client Milkrun in early April 2023 and alongside a restructuring that cut 27 roles, or 8 per cent of staff, following a 16 per cent reduction in October 2022. The CEFC had invested in Zoomo through its Clean Energy Innovation Fund since 2020, and its lifetime commitment to the company stood at A$21.7 million at 30 June 2023. Other existing shareholders include AirTree Ventures, Contrarian Ventures, Maniv Mobility, Collaborative Fund, MUFG Innovation Partners, SG Fleet, WIND Ventures and Akuna Capital. Zoomo began as Bolt, a side project, became a full-time business in 2019 and took its current name in August 2020. It rents and sells e-bikes to delivery riders and fleets in Australia, the United Kingdom, the United States, Canada, Germany, France and Spain. It had raised an A$80 million Series B in November 2021 and a US$20 million extension in February 2022.
Feb 2022Series BCollaborative Fund (lead); MUFG Innovation Partners; WIND Ventures; SG Fleet Group; Akuna Capital$20MZoomo is an Australian startup founded in 2017 that manufactures and leases utility e-bikes for last-mile delivery workers, operating in 16 cities across six countries including North America, Asia Pacific, and Europe. The company raised a $20 million Series B extension on February 21-25, 2022, led by Collaborative Fund, with participation from MUFG Innovation Partners, SG Fleet Group, Akuna Capital, and WIND Ventures, bringing total funding to $101.5 million after a prior $60 million Series B in November 2021 that included equity and debt. Funds were allocated to hiring globally, expanding fleet and vehicle management software, and developing an end-rider app. In 2021, Zoomo achieved 4x global revenue growth and 20x growth in its enterprise business, driven by B2B deals with food delivery platforms like Uber Eats, DoorDash, and Gorillas, positioning it as a market standard for delivery riders in cities like London and Paris. No specific post-money valuation, quantified revenue, ARR, EBITDA, or valuation multiples were disclosed in connection with this round; sources only reference growth multiples without base figures.
Nov 2021Series BArcTern Ventures (lead); Grok Ventures (lead); Skip Capital (lead); Maniv Mobility; Clean Energy Finance Corporation; Contrarian Ventures; Airtree Ventures$60MZoomo is an Australian startup that builds e-bikes and offers micromobility subscriptions to gig workers, couriers, and enterprises for last-mile delivery, operating in markets including Australia, the UK, US, Spain, France, and Germany. The company announced a $60 million Series B funding round on November 15, 2021, comprising $30 million in equity led by Grok Ventures, Skip Capital, and ArcTern Ventures, with participation from AirTree Ventures, Clean Energy Finance Corporation, Contrarian Ventures, and Maniv Mobility, plus $30 million in asset-backed debt from Viola Group. Funds are earmarked for expanding into new cities and countries, deepening software integration, developing next-generation vehicles, scaling hardware via subscriptions, and building a servicing network. Zoomo's customers include major delivery platforms such as Domino’s, Pizza Hut, Amazon Wholefoods, UberEats, Doordash, JustEat Takeaway, and Deliveroo. The UK business grew 7x since July 2020 and was projected to grow 20x by year-end, while global enterprise business expanded significantly amid 2021 expansions into cities like Manchester, Chicago, Valencia, Paris, and Stuttgart. In a later update, Zoomo added $20 million to the round, bringing the total to $60 million and cumulative fundraising over $100 million, with plans to invest in core technologies, an end-rider app, and growth beyond 16 cities in six countries. The funding positions Zoomo to disrupt traditional delivery vehicles, akin to Rivian but focused on light electric vehicles like e-bikes, e-cargo, and e-mopeds for urban deliveries, capitalizing on trends toward lower emissions, reduced traffic congestion, and cheaper electric fleet ownership. The global electric cargo bikes market is forecasted to grow at a 12% CAGR to $1.1 billion by 2026.
May 2021Series AAirtree Ventures (lead); Maniv Mobility; Winthrop Square Capital; Clean Energy Finance Corporation; Contrarian Ventures; Wisdom VC$12MZoomo is an Australian e-bike innovator providing subscriptions for commercial electric bikes and e-mopeds to businesses in last-mile delivery, including partnerships with Uber Eats and DoorDash. The company offers a full-stack solution encompassing hardware, software, financing, servicing, and fleet management to facilitate carbon-neutral operations for food, grocery, and logistics firms. In early 2021, Zoomo raised $12 million in an interim capital round led by AirTree Ventures, with participation from Clean Energy Finance Corporation, Maniv Mobility, Contrarian Ventures, Winthrop Square Capital, and Wisdom VC. This followed an $11 million Series A in August 2020, bringing cumulative funding to $26 million USD over 24 months. The funds supported expansion into new markets like continental Europe and additional U.S. states, growth of its fleet beyond 10,000 units, development of next-generation vehicles, and extension of its consumer model to commuters.
Aug 2020Series AClean Energy Finance Corporation (lead); Maniv Mobility; Hana Ventures; Contrarian Ventures$11MZoomo, an Australian electric bike startup formerly known as Bolt Bikes, provides smart utility bikes for last-mile delivery through a vertically integrated model including service centers, microfinance, and software. The company raised $11-16 million in an August 2020 Series A round led by Clean Energy Finance Corporation with equity from Hana Ventures and existing investors Maniv Mobility and Contrarian Ventures, plus venture debt from OneVentures and Viola Credit. Funds supported expansion into delivery vehicles, product lineup, physical presence in Australia and the US, including Brisbane and Los Angeles, and growth in the e-commerce sector to reduce transport emissions.
Nov 2019SeedManiv Mobility (lead); Hana Ventures; Contrarian Ventures$3M-

Who has invested in Zoomo?

15 investors have backed Zoomo across its funding rounds, including Maniv Mobility, Clean Energy Finance Corporation, Contrarian Ventures, Airtree Ventures, Hana Ventures and Grok Ventures.

Lead investors include Grok Ventures, Clean Energy Finance Corporation, Collaborative Fund, ArcTern Ventures, Skip Capital and 2 other investors.


Zoomo Investors

Investors in Zoomo by funding rounds participated
InvestorHQRoundsRoleFirst check
Maniv MobilityIsraelTel Aviv4LeadNov 2019
Clean Energy Finance CorporationAustraliaSydney4LeadAug 2020
Contrarian VenturesLithuaniaVilnius4ParticipantNov 2019
Hana VenturesSouth KoreaSeoul2ParticipantNov 2019
Grok VenturesAustraliaSydney2LeadNov 2021
Airtree VenturesAustraliaSydney2LeadMay 2021
MUFG Innovation PartnersJapanTokyo1ParticipantFeb 2022
Winthrop Square CapitalUnited StatesBoston, MA1ParticipantMay 2021
WIND VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2022
Wisdom VCUnited StatesSan Francisco, CA1ParticipantMay 2021
Collaborative FundUnited StatesNew York City, NY1LeadFeb 2022
SG Fleet GroupAustraliaSydney1ParticipantFeb 2022
ArcTern VenturesCanadaToronto1LeadNov 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Zoomo Competitors

Zoomo competitors include listed companies like Cintas, United Rentals, Ashtead Group and AerCap, and private ones like Wicked Ride Adventure Services and Enilive.

Public and private companies comparable to Zoomo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Wicked Ride Adventure ServicesIndiaBangalorePrivate--$30M-
CintasUnited StatesUnited StatesPublicly listed$11B$3.1B$88B7.8x
United RentalsUnited StatesUnited StatesPublicly listed$16B$7.2B$65B4.6x
Ashtead GroupUnited StatesUnited StatesPublicly listed$11B$4.5B$32B3.9x
AerCapUnited StatesUnited StatesPublicly listed$8.5B$6.8B$26B7.4x
EniliveItalyRomePrivate--$14B-

Zoomo Public Comps

Zoomo is still privately-owned, but its public comps include Cintas, United Rentals, Ashtead Group, AerCap, FTAI Aviation, Ryder, U-Haul, Hotai Motor, Ayvens and VinFast.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cintas$11B$3.1B8.1x7.8x29.1x27.7x
United Rentals$16B$7.2B5.0x4.6x11.3x9.9x
Ashtead Group$11B$4.5B3.9x3.9x9.6x8.4x
AerCap$8.5B$6.8B7.8x7.4x9.7x8.7x
FTAI Aviation$2.5B$1.1B8.6x5.9x20.1x16.3x
Ryder$13B$3.3B1.4x1.4x5.5x6.3x
U-Haul$6B$1.6B2.7x2.7x10.2x9.6x
Hotai Motor$7.8B$1.5B2.4x-12.3x-

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Common questions about Zoomo

When was Zoomo founded?Zoomo was founded in 2017.
Where is Zoomo headquartered?Zoomo is headquartered in Sydney, Australia.
Is Zoomo publicly listed?No, Zoomo is a private, VC-backed company.
How much funding has Zoomo raised?Zoomo has raised $121M across 6 funding rounds.
What was Zoomo's last funding round?Zoomo's last funding round was a $16M undisclosed-stage round in May 2023, led by Grok Ventures and Clean Energy Finance Corporation.
Who are Zoomo's investors?Zoomo's investors include Maniv Mobility, Clean Energy Finance Corporation, Contrarian Ventures, Hana Ventures, Grok Ventures, Airtree Ventures, MUFG Innovation Partners, Winthrop Square Capital, WIND Ventures, Wisdom VC and 5 others.
Which companies are comparable to Zoomo?Companies comparable to Zoomo include Wicked Ride Adventure Services, Cintas, United Rentals, Ashtead Group, AerCap and Enilive.

See companies similar to Zoomo

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