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Toyota-Denso Invests $20M in E-bike Start-up

Toyota-affiliated auto provider, Denso Corp. has invested in an e-bike startup to push ahead of its mobility applied sciences. Denso’s New Mobility Group and one other firm, Invest International, led a $20 million Sequence A funding spherical in Bond Mobility Inc., in keeping with an information launch. Denso’s Company Enterprise Capital Group below its North American subsidiary Denso Worldwide America Inc. negotiated the funding phrases.

Whereas Denso provides automakers, it is also concerned about “micro-mobility,” or quick-distance city transportation strategies resembling electric bicycles, electric scooters, and docked bicycles. They can be utilized to scale back site visitors in cities and scale back carbon dioxide emissions, and are a well-liked new section of the excessive-tech mobility sector.

As such, Denso invested in Bond Mobility, which operates stationless e-bike sharing providers. Its electric bicycles go as much as 30 mph and are marketed as a substitute for automotive, rideshare or public transit journeys of lower than 5 miles. Micromobility is a space during which “Denso has not historically participated,” Tony Cannestra, director of company ventures, stated in an emailed assertion. Cannestra declined to reveal Denso’s monetary contribution to the spherical, which closed in early April.

Bond Mobility, which has operations in Palo Alto, Calif., and Zurich, Switzerland, operates its e-bike service in two cities in Switzerland. It goals to deliver it to markets within the U.S. using the funding and relationship with Denso and Invest, co-founder Kirt McMaster stated within the launch. Bond Mobility administration is brewing a plan for enlargement, Cannestra stated. And Denso has mentioned increasing its ties to Bond Mobility with an improvement settlement or different collaborative effort.

Denso’s partnership with Bond Mobility will “speed up the event of (Denso’s) Mobility as a Service (MaaS) mannequin,” it stated within the launch. That idea makes use of cloud-primarily based know-how to gather and analyze knowledge on how linked autos work in actual-life site visitors circumstances with a purpose of creating mobility safer and more straightforward, in keeping with Denso’s web site.

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