Micromobility pulls in the cash
Those billions just keep on pouring into bike and scooter ventures. Some $1.3bn has been invested in US micromobility firms so far this year, with $795m pumped in during the latest quarter alone, according to Oversharing.
However, that’s down significantly from the whopping $4.8bn in the first three quarters of 2018.
The drop in financing suggests investors may have grown warier of the scooter proposition, after the off-the-shelf consumer scooters many companies initially rolled out turned out to have short lives and poor economics,” says Oversharing.
“Companies are now designing better, more durable scooters for shared use, something investors probably want to see before handing over too much more money.”