Quite a few startups are doing extremely well even in oversaturated segments, which is quite difficult to do so due to tough competition from numerous rivals. Mobility is one such category and the Sydney, Australia-based startup Bolt Bikes is bolting ahead. The startup has announced the expansion of its rental electric-bike service to the UK and the US. The news comes soon after the company secured €2.25 million in a seed round that was led by some notable investors.
Bolt Bikes is different than your average electric bike rental platform in the sense that it is specifically aimed towards gig economy delivery workers. It has been working on differentiating itself and was recognised in the latest funding round that is lead by Maniv Mobility, former executives of Deliveroo, Mobike and Bain & Co. Founders of the startup are Mina Nada, former Deliveroo and Mobike executive, and Michael Johnson, a former executive of Mobike and Bain & Company.