Bolt Mobility, a US-based electric scooter company, recently announced that it has finished a Series A funding round.
The company, which was co-founded by Olympic sprinter Usain Bolt, raised $30 million during the round with a valuation of around $100 million.
Why it matters: Bolt, led by former General Motors mobility executive Julia Steyn, is entering a crowded field in which many competitors are losing money and cutting back after two years of explosive growth.
Details: The funding round was led by Rokk3r Fuel ExO, a Miami-based global venture capital firm geared toward early-stage companies.
- Bolt currently operates 5,000 scooters in Fort Lauderdale, Miami, Alexandria, Arlington, Richmond, Nashville, Atlanta, Portland, and Paris.
- It is approved to soon launch in several more cities across the U.S. and Europe.
Read more here