CA-based Drop Mobility secures a growth funding. The revenue-based investment package’s total sum remained undisclosed. The money will be used by the business to finance its ongoing growth.
Under the direction of CEO Qiming Weng, Drop Mobility permits American towns to operate e-bike share programs, enabling sustainable, regional, micro-mobility all around the nation.The company has an operations division, a software platform, and e-bikes. The bikes can be purchased or leased by municipalities or transportation agencies.
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In order to make the e-bikes more accessible, the entities can then sign long-term contracts to subscribe to software that enables them to supply the bikes at reasonable pricing. The business maintains offices in Toronto, Canada, and San Francisco, California.
Qiming Weng said: “With the capital from Decathlon, we will be able to speed up product development timelines that can let us deliver an even more resilient, recycle-able, and sustainable e-bike share experience.”
About Drop Mobility
Drop Mobility makes localized, sustainable micro-mobility possible in cities. In order to transform the way millions of people move around cities worldwide, their team works every day to replace short car trips with smaller electric vehicles. This work is driven by a responsibility to address some of the biggest challenges facing their generation, including climate change and congested city infrastructure.
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