Bird, the leader in micro-mobility, has recently announced the acquisition of Berlin-based Circ, resulting in Bird adding more than 300 employees to its European operations.
Lukasz Gadowski, founder and CEO, Circ, said:
As a combined company with Bird, we will be able to significantly accelerate our mission throughout Europe to provide safe, available, affordable, convenient, and sustainable rides.
Additionally, Bird has secured $75 million (approx €68 million) extension to its Series D funding round, bringing the size of the round to $350 million (approx €318 million).
Ben Kaminski, Partner at Target Global:
This is a significant deal for both companies as well as the broader European technology and transportation industries.
Founded by serial entrepreneur and investor, Lukasz Gadowski, Circ operates across 43 cities in 12 countries. Investors joining Bird’s existing investors as part of the combined company include Target Global, Team Europe, Idinvest Partners, and Signals Venture Capital.
Travis VanderZanden, founder and CEO of Bird:
To further advance our mission, we’re excited to acquire Circ, which is the clear European leader. We like their laser focus on treating cities as their number 1 customer and their mindset of prioritizing profitability overgrowth.
The micro-mobility company intends to use the capital to make rapid progress on the company’s path to profitability, to increase its vehicle development and research initiatives, and to support European expansion plans.
Travis VanderZanden, founder and CEO of Bird:
Investors today are looking for financially disciplined companies with a clear path to profitability. More than 12 months ago, we shifted our focus from growth to profitability, which put us in a position to deliver the strongest unit economics and longest-lasting custom-designed vehicles of any micro-mobility company today.
Main image credits: Bird
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