Bolt Mobility raises $30 million for electric scooter rollout
- Joann Muller, author of Axios What's Next
Bolt Mobility's electric scooter and CEO Julia Steyn. Photos: Bolt Mobility
Bolt Mobility, a Miami Beach-based electric scooter company co-founded by Olympic sprinter Usain Bolt, announced Tuesday that it closed a Series A funding round, bringing total investment to $30 million at a $100 million valuation.
Why it matters: Bolt, led by former General Motors mobility executive Julia Steyn, is entering a crowded field in which many competitors are losing money and cutting back after two years of explosive growth.
Details: The funding round was co-led by Rokk3r Fuel ExO and Sofreh Capital.
- Bolt currently operates 5,000 scooters in Fort Lauderdale, Miami, Alexandria, Arlington, Richmond, Nashville, Atlanta, Portland, and Paris.
- It is approved to soon launch in several more cities across the U.S. and Europe.
Of note: Bolt also announced that Ed Welburn, GM's former vice president of global design, is joining the company as an advisor.
Editor's note: This piece was corrected to add that the round was co-led by Sofreh Capital.