Bird secures a $75 million investment and buys escooter startup Circ
Category: #business  By Mateen Dalal  Date: 2020-01-28
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Bird secures a $75 million investment and buys escooter startup Circ

Bird, the Santa Monica based bike and electric scooter company, reportedly along with a $75 million series D funding round, has also confirmed the acquisition of Circ, an escooter operator, for an undisclosed number. Nearly 300 employees from offices of Circ in Europe would join Bird in its current mission to offer sustainable, streamlined and safe transportation.

Travis VanderZanden, founder and CEO, Bird, stated that to further advance the company’s mission, Bird is thrilled to acquire Circ, the clear leader in the field across Europe.

VanderZanden further stated that the company liked the laser focus of Circ on treating cities as their top priority customer as well as their approach of giving priority to profitability over growth.

Earlier in a January 2019 series A, Circ had captured $60.57 million, but the capital failed to fulfil challenges. As per reliable reports, last November the startup dismissed nearly 50 of its employees after moving to batteries that are swappable and changing its focus to efficiency and operational excellence.

Circ’s escooters, in the late 2019, had given 3 million listed customers and 10 million rides throughout 43 cities as well as 12 countries in addition to the UAE, from the initial 1 million rides throughout 21 cities as well as 7 countries in June.

Lukasz Gadowski, Circ CEO at the time, stated that with leading technology and partnerships, the company has established itself as the leader of micro mobility in Europe. Being a combined enterprise with Bird, the firm would be able to substantially accelerate its mission across Europe to offer safe, affordable, available, sustainable and convenient rides.

The investors who are joining the existing investors of Bird as part of the merged company include Idinvest Partners, Signals Venture Capital, Target Global and Team Europe.

Recently, Bird unveiled the Bird Two, a new $1299 architected escooter with an extensive battery life; the Scoot Moped, an edition of the Cruiser; and the Bird Cruiser, a mini motorbike that features a padded seat and could accommodate two riders. 

The customer experience of Bird is much like that of its rivals Spin, Skip and Lime. Users through an app could rent a scooter for $1, along with a 15 to 20 cents per minute charge depending upon the city. After the completion of the ride, the wheels lock up, and one of the independent gig workers gather and recharge the scooter before redocking them.
 

Source credit: https://venturebeat.com/2020/01/27/bird-raises-75-million-more-and-acquires-escooter-startup-circ/

 

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About Author

Mateen Dalal    

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

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