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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.

Go deeper

North Carolina Sheriff's deputy fatally shoots Black man

A Black man was fatally shot by a North Carolina sheriff's deputy in Elizabeth City, northeast of Raleigh, on Wednesday, igniting protests in the local community.

Details: Pasquotank County Sheriff Tommy Wooten said at a news briefing the State Bureau of Investigation was investigating the shooting of Andrew Brown Jr., which happened about 8:30 a.m as deputies were serving a search warrant.

Pew: Over 80% of Asian adults say violence against them is increasing

Photo: Spencer Platt/Getty Images

More than 80% of Asian adults say that violence against them is increasing, according to a new Pew Research Center survey.

The big picture: The survey, conducted April 5-11, comes after the recent shootings in Atlanta in which eight people, including six Asian women were killed, as well as a yearlong spike in hate incidents against the Asian American and Pacific Islander (AAPI) community.

Danger lurks in the Democrats' police talk

House Speaker Nancy Pelosi and House Democrats celebrate last June after they passed the George Floyd Policing Act. Photo: Ting Shen/Xinhua via Getty Images

As Congress forges ahead with police reform legislation, Democratic operatives are warning lawmakers to steer clear of any defund-the-police rhetoric since it could hurt them in the midterms.

Why it matters: President Biden and his fellow Democrats say Congress needs to pass the George Floyd Policing Act, which would ban chokeholds, prohibit no-knock warrants and generally make it easier to hold officers accountable for misconduct.