ONE MOTO raises six-figure Bridge funding round
ONE MOTO, a startup that provides electric vehicles for the last-mile and delivery industry, has raised Bridge funding, led by Miray Zaki, Managing Partner of Dismatrix. The round was also crowdfunded through the platform, Eureeca.
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ONE MOTO addresses three issues of environment, safety, and profitability. It provides a digitally inter-connected fleet of both private and commercial vehicles, saves the environment from 16,560 tonnes of CO2 per year (from delivery motorcycles in UAE), with operators being able to double their fleet for half the cost of petrol/diesel vehicles. The data provided by the vehicle fleets provide operators and governments with real-time information to streamline their operations and OpEx.
Adam Ridgway, CEO said, “ONE MOTO are more than a provider of sustainable mobility, we are environmentally focused and aligned with the 17 Sustainable Development Goals of the UN. This is an audacious task with a long road ahead, but our vision and team’s dedication will get us there. Customers who purchase the vehicles benefit from the carbon offset, Green PR and government grants, whereas those who lease the vehicles benefit from the profitability and sustainable."
ONE MOTO shares that the average age of petrol motorcycles is two years, and following this, they get scrapped. This is a growing concern for the startup with Adam adding, “With the ONE MOTO last-mile vehicles, we are addressing the environmental issues, the profitability of restauranteurs, aggregators, fleet operators and more importantly the earnings and welfare of the riders.”
They also offer a care package, which after five years will replace the vehicle for free and recycle the replaced parts. The dedication to a cause gives an even increased lifespan of a commercial vehicle, the startup says. The startup aims to switch the UAEs last-mile vehicles electric by 2024, supporting the vision of HH Sheikh Mohammed bin Rashid Al Maktoum and his counsel by advancing their goals by six years. "We have expanded our sales network last year to four countries and are aggressively growing an international dealership network," Adam adds.
Miray Zaki, Managing Partner of Dismatrix commented, “Being focused on sustainable yet financially viable businesses, we were truly impressed with the ingenuity, passion, drive, and integrity of Adam and the broader One Moto team. I’m personally excited to partner with Adam Ridgway and his team at One Moto charting the way in tomorrow’s EV transportation world."
ONE MOTO is working closely with various bodies in the UAE to increase the incentives for the adoption of electric vehicles to further enhance a sustainable future for all.
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