Atlassian Founders Invest Heavily in e-Bikes
Sydney, NSW
Australian e-bike innovator Zoomo’s mission to cement micromobility as the worldwide solution for last-mile urban delivery services has been boosted by an $80 million capital injection spearheaded by another Aussie business success story.
Zoomo, based in Sydney’s Surry Hills, this month announced it had secured the capital raise led by Grok Ventures, the climate-focused investment office of Atlassian co-founder Mike Cannon-Brookes and his wife Annie.
Skip Capital – the investment office of Atlassian’s other co-founder, Scott Farquhar – was also part of the capital raise, along with global ‘cleantech’ investor ArcTern Ventures.
“Delivery companies are re-evaluating their fleet composition and are embracing the power of the pedal to marry cost efficiencies with environmental sustainability.”
Zoomo is already a world leader in providing e-bikes for delivery services, with operations in Australia, the US, UK and Europe.
Its vehicles are used by major players in the on-demand food and grocery delivery sector including UberEats, Doordash, JustEat Takeaway, Deliveroo, Domino’s, Pizza Hut, Amazon Wholefoods, GoPuff, Gorillas, Getir, JOKR, Zapp, Weezy, Dija, Milkrun and Cajoo.
As the world focused on Cop26 discussions and agreements to reduce carbon emissions, Zoomo declared its ambition to transition every urban delivery mile to micromobility vehicles.
It said this month’s capital injection would accelerate that campaign.
“Zoomo will use the funds to expand its operations into new cities and countries, deepen software integration with its customers, and finalise development of Zoomo’s next-generation vehicles,” a statement from the company says.
“As countries all around the world grapple with achieving net-zero carbon emissions, they are realising that electrifying cars is only part of the answer,” Zoomo co-founder and CEO Mina Nada said.
“Delivery companies are re-evaluating their fleet composition and are embracing the power of the pedal to marry cost efficiencies with environmental sustainability.”
Zoomo is the world’s only micromobility company providing a one-stop shop of fleet management and delivery solutions, integrating vehicles, software, servicing and finance to provide an end-to-end platform.
Mr Cannon-Brookes said: “If we want to decarbonise our world, transportation needs to change. Zoomo is an incredible Aussie start-up taking this on. They’re greening delivery and transforming logistics on a global scale.”
The capital raise was supported by a ground-breaking, asset-backed debt facility for e-bikes, provided by Viola Credit – a long-term partner of Zoomo and part of leading Israel tech-focused investor Viola Group – and OneVentures.
The debt facility will allow Zoomo to supercharge its customers’ growth by removing the need for upfront, lump-sum payments on bikes. Instead, customers will be able to pay a monthly subscription.
GoPuff UK General Manager Alberto Menolascina said the company’s Zoomo e-bike fleet was critical to GoPuff’s rapid grocery delivery service.
“Not only have we found Zoomo the most advanced partner for enabling our vehicle scale-up … the bikes are the favourites amongst our couriers as well,” he said.
The managing director of one of Australia’s largest Domino’s franchisees said the Zoomo e-bike service was a key step in the pizza giant establishing a more sustainable delivery fleet, reducing its environmental footprint, achieving internal efficiencies and broadening its hiring pool.