Toyota, Softbank take $20M bet on company that produces 30mph e-bike

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Bird and Lime are scooting along, backed by hundreds of millions in venture capital. But there are still plenty of companies hoping to dominate the still-nascent micromobility market, given its promise. Among them: Bond Mobility, a three-year-old Palo Alto, Calif. and Zurich, Switzerland-based startup that says its “high-performance” dockless electric bikes will leave e-scooters in the dust.

Investors think the company might be right — at least, they think it might be right for a certain type of customer who wants to get to where she is going faster. DENSO’s New Mobility Group, which includes Toyota and SoftBank, just provided $20 million in Series A funding to the upstart, whose vehicles can travel at up to 30 miles per hour. That’s twice what electric scooter companies have decided is a safe speed.


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