Bird, a Santa Monica, Calif.-based micro-mobility company, raised $275m in Series D funding.
The round was led by CDPQ and Sequoia Capital.
The company intends to use the funds to continue building the business on its path to profitability and ongoing vehicle research and development.
Led by Travis VanderZanden, founder and CEO, Bird makes custom designed and engineered vehicles including Bird Zero, which has a lifespan of over 12 months, Bird One, a next generation e-scooter built for the shared micro-mobility market, Bird Two, a seated electric vehicle available in Los Angeles, and Bird Cruiser.
Commenting on the investment, Travis VanderZanden, said: “Nearly a year ago, we recognized that the world was changing. Gone are the days when top line growth was the leading KPI for emerging companies. Positive unit economics is the new goal line.
“As a result, we pivoted from growth to unit economics as the top priority for the company. Now with the best unit economics in the industry, new Bird investors such as CDPQ see that we are paving the road for a long term sustainable and healthy business.”