MUFG Innovation Partners invested in Zoomo, a leading global utility electric bike platform to accelerate transition to environment friendly transportation for the last mile
Feb 22, 2022 – MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), the leading global financial group of Japan, recently invested in Zoomo Holdings Pty. Ltd. (Zoomo), a leading global utility e-bike platform that is on a mission to disrupt the logistics space and transition every urban delivery mile to light electric vehicles (LEVs). The rapid delivery market, which requires less than 30 mins delivery, continues to grow at an exponential rate globally, with consumer expectations for delivery shortening by the minute. This growth has proven to be a significant positive tailwind for Zoomo, as it leads the transition in last-mile delivery from gas guzzling, two-tonne vehicles to highly efficient, economical and environmentally friendly LEVs. Zoomo’s ultimate goal is to accelerate the transition to net-zero through the conversion of every urban delivery mile to light-electric vehicles.
Zoomo will use the additional funds to deepen its investment in core technologies, including new vehicle products and next-generation software. Through the investment, MUIP would support Zoomo’s business growth, international expansion including entering Japanese market, and strategic partnership with MUFG.
About MUFG :
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 3,000 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to ““Committed to empowering a brighter future.” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english
About Zoomo :
Zoomo is a full-service utility micromobility platform founded by Mina Nada and Michael Johnson, with the mission of turning the world’s delivery fleets electric using e-bikes. Zoomo’s vertically integrated platform encompasses custom delivery oriented e-bikes, a physical servicing and maintenance network, a software platform for asset management and telematics, and a finance offering. Zoomo currently operates in Australia, the United States, the United Kingdom and Europe.
Zoomo vehicles are used by major players in the on-demand food and grocery delivery segment including UberEats, Doordash, JustEat Takeaway, Deliveroo, Domino’s, Pizza Hut, Gopuff, Gorillas, Getir, JOKR, Zapp, Weezy, Dija, Milkrun, Cajoo and more. For more information, visit https://www.ridezoomo.com/us/home
