Mobility startup launches in London following £2.1m seed funding round

A platform for electric delivery vehicles has launched in the UK and US after securing £2.1m in a seed funding round.

Sydney-based startup Bolt Bikes has expanded into the London and San Francisco following a funding round led by global mobility venture capital (VC) firm Maniv Mobility.

The round also saw participation from European e-mobility firm Contrarian Ventures, individual VCs and former executives of Uber and Deliveroo.

Co-founded in 2017 by former Deliveroo executive Mina Nada and former Bain & Co consultant Michael Johnson, Bolt Bikes specialises in Light Electric Vehicles for delivery couriers.

Mina Nada, CEO and Co-founder of Bolt Bikes, explained: “Being in the food delivery industry since its inception, we saw that Light Electric Vehicles were the real future of ‘last mile’ logistics, yet no-one was offering the right vehicle, financing or maintenance solution.

“We are proud to be serving the real needs of delivery couriers while building the logistics infrastructure of the future.”

Prescott Watson, principal at Maniv Mobility, added: “More than just helping couriers make a better living, Bolt is solving our cities’ growing congestion and traffic safety problems by moving deliveries from cars and vans onto clean, space-efficient Light Electric Vehicles.

“As e-commerce deliveries grow, we’re expecting Bolt’s platform to become the preferred solution for logistics players in the coming years.”

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