Zoomo, a leader in electric last mile delivery vehicles, secured a USD $60m capital raise.
The round, led by Grok Ventures, was supported by an asset backed debt facility from Viola Credit. Skip Capital and ArcTern Ventures, as well as existing investors AirTree Ventures, the Clean Energy Finance Corporation (CEFC), Contrarian Ventures and Maniv Mobility, participated in the funding.
The company intends to use the funds to expand its operations into new cities and countries, deepen software integration with its customers, and finalise development of its vehicles.
Founded by Ex-Deliveroo and Mobike executive Mina Nada and his former Bain colleague Michael Johnson, Zoomo is an electric vehicle company providing a one-stop shop of fleet management and delivery solutions, integrating vehicles, software, servicing and finance to provide an innovative end-to-end platform. Since July 2020, the business in the UK has grown 7 times, and is on track to grow 20 times by the end of the year launching regionally in Manchester, as well as two additional locations across the country by the end of the year.
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, Amazon Wholefoods, Gopuff, Gorillas, Getir, JOKR, Zapp, Weezy, Dija, Milkrun, Cajoo and more.