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E-Mobility Startup Ridepanda Extends its Funding by $3.75M to Create Happier and Healthier Cities

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E-Mobility Startup Ridepanda Extends its Funding by $3.75M to Create Happier and More healthy Cities

SAN FRANCISCO–()–Ridepanda, the world’s first on-line dealership for micro-mobility, introduced the increase of $3.75 million in new financing to assist rework private transportation and meet the surging demand for electrical autos. Traders embrace Porsche Ventures, Yamaha Motor Ventures, Proeza Ventures, and Normal Catalyst. Ridepanda sees e-rides as the last word option to create more healthy, extra linked communities that cut back carbon emissions and air pollution by means of environmentally-friendly modes of transportation.

Ridepanda presents a handpicked collection of e-bikes, e-mopeds and e-scooters, together with important add-ons together with financing, upkeep, warranties and personalised buyer companies. The corporate makes it simpler than ever for shoppers to make climate-smart transportation decisions by offering a user-friendly platform to find the precise e-ride for his or her particular person wants, by means of a curated set of expert-vetted merchandise and assist companies.

Co-founders Chinmay Malaviya and Charlie Depman have each beforehand labored at main micro-mobility sharing firms together with Lime, Chook and Scoot, and noticed firsthand the rising demand for private possession of e-bikes. Customers desire e-ride possession as a result of it’s cheaper, extra accessible, and so they pays it off in just a few months, against shared transportation that may price extra in the long run.

As folks begin returning to the workplace, Ridepanda will supply protected and simple choices for employers primarily based on their workers’ particular wants and demographics. Commuters in New York Metropolis want compact, gentle, and moveable e-rides for his or her walk-up flats whereas tech savvy millennials in San Francisco are on the lookout for e-rides to fight the hilly panorama, and retirees in Miami desire e-rides that present ease and luxury with hydraulic brakes. The corporate has additionally seen an uptick in demand with meals and grocery supply drivers, and Ridepanda is ready to supply curated transportation options which might be sturdy, highly effective, and obtainable at an accessible price ticket.

“We’re so lucky to companion with mission-aligned strategic traders to assist convey Ridepanda’s imaginative and prescient to life,” mentioned Chinmay Malaviya, co-founder and CEO of Ridepanda. “Our traders come from main car and components producers and might present robust thought management and path as we look ahead to serving the very fast-growing demand for gentle electrical car ridership nationwide, whereas offering our prospects with a protected and seamless digital shopping for and possession platform.”

“Our companions are serving to us convey a lot wanted change to the private mobility trade,” mentioned Charlie Depman, co-founder and CTO of Ridepanda. “The assist from traders will likely be used to make technological enhancements to our platform to streamline the method of discovering, buying, proudly owning, and sustaining gentle electrical autos. This contains constructing tailor-made experiences for particular demographics, strengthening our vetting system, enhancing our ridefinder advice engine, and serving to governments make the most of e-bike rebates and subsidies.”

“Ridepanda has confirmed to be a frontrunner in a fast-growing market and we’re excited to announce our funding into the net market for electrical micro-mobility at such an early stage,” mentioned Stephan Baral, Head of Porsche Ventures Area US. “Though each firms have objectives of constructing a sustainable future and getting extra folks to make use of clear vitality autos, our distinctive views and areas of experience will present invaluable alternatives for mutual development. Ridepanda is ready to fulfill the burgeoning demand for e-rides, and we’re excited to put money into a mission-driven firm that’s devoted to remodeling the transportation sector for good.”

“Put up COVID-19 we’re seeing extra willingness by people to make use of micromobility frequently, given its security, comfort, affordability, and sustainability, together with an rising demand for e-bikes, e-scooters, and e-mopeds,” mentioned Enrique M. Zambrano, Principal at Proeza Ventures. “This has led to a transparent shopper want for a trusted specialised mobility market that makes the invention and decision-making course of extra user-friendly and knowledgeable for every particular use case. We’re excited to companion with Ridepanda, whom we consider is finest positioned to develop into this trusted platform and improve e-ridership.”

Ridepanda’s $3.75M funding will allow the corporate to rent expertise throughout the U.S. and construct curated on-line and offline experiences to additional allow the adoption of sunshine electrical autos in each American residence. Only in the near past, the E-BIKE Act was launched into Congress to provide e-bike rebates (protecting 30% of the price of the electrical bicycle, as much as a $1,500 credit score), a powerful step to allow cheaper, sensible, handy, environmentally-friendly and enjoyable electrical autos. Ridepanda is partnering with the county of San Mateo with their utility supplier Peninsula Clear Power to supply a seamless digital expertise for his or her residents to reap the benefits of their native e-bike rebate program, and is worked up to make use of that as a case research to work with the federal government on a federal stage because the E-BIKE act passes.

About Ridepanda:

Ridepanda is the world’s first on-line dealership for micro-mobility. Based in 2020 and primarily based out of San Francisco, California and New York Metropolis, the corporate is on a mission to assist create a world with happier, extra environment friendly cities and cities that run on small, quiet, eco-friendly electrical autos. With an expertly curated collection of e-bikes, e-mopeds and e-scooters and personalised buyer companies, Ridepanda is making e-ride possession and upkeep simple and enjoyable. Ridepanda is backed by traders together with Porsche Ventures, Yamaha Motor Ventures, Proeza Ventures, Normal Catalyst, Shifting Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures, 0 Ventures, Dreamers VC and Lime’s Co-Founder Toby Solar. For extra data, please go to www.ridepanda.com or @TheRidepanda.


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