Zoomo announces collaboration with pizza giants; raises $16M funding

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The thriving online food delivery space has now prompted an Australian e-bike startup, Zoomo, to foray into the food delivery business with its collaboration with prominent pizza delivery giants such as Dominos and Pizza Hut.

Through this strategic deal, the company has also secured USD 16 million in a new funding round. Reports suggest that this financing stands out to be the second tranche of funding, where in August last year, the company raised another $16 million. These funding bring the companys overall valuation to $34 million in the past two years.

According to Zoomo officials, the funding round was led by AirTree, a venture investment company, and also included funds from Clean Energy Finance Corporation, Contrarian Ventures, Wisdom VC, Winthrop Square, and Maniv Mobility.

Through deals like the ones inked with Dominos and Pizza Hut, Zoomo is also looking forward to supporting the logistics and food delivery players in achieving carbon neutrality goals, given the switch to e-bikes rather than delivery vans.

It has been claimed that a switch to e-bikes would mean that about 75% of carbon emissions linked to last-mile logistics can be dodged.

Moreover, the new funding raised would help the company expand its operations in global markets. In fact, with offices already established in Brisbane, Sydney, New York, Melbourne, San Francisco, Philadelphia, and Liverpool, Zoomo is now eyeing on opportunities in continental Europe and other states in the US.

Commenting on the recent move, Zoomo Co-Founder and CEO, Mina Nada mentioned that the firm had initially built its products to cater to the demands of gig workers in the food delivery business.

Mina also cited that the professionals in the space have raised their expectations for quality commercial vehicles, on-demand service, tech-enabled security, flexible financing, and on-demand service features; which has urged the company to innovate its ideas and services accordingly.

For the record, services offered by Zoomo include same-day servicing and anti-theft technology, which would enable the company to unlock environment-friendly transport solutions to its consumers without the need for internal management or maintenance.

Source Credit: https://thedriven.io/2021/05/04/e-bike-start-up-zoomo-inks-deals-with-pizza-giants-secures-16m-funding/