Bond Mobility CEO Raoul Stockle on a bike at the micromobility summit. Photo: Bond Mobility

Some prominent names from the mobile world have teamed up to form Bond Mobility, an e-bike startup that has raised $20 million from backers including Japanese car parts giant Denso.

The bigger picture: Bond enters an already crowded micromobility market filled with bike-sharing and scooter startups. To stand out form the pack — and compete against Uber-owned Jump — Bond is betting on a fast, dockless e-bike capable of traveling up to 30 miles per hour.

Former Cyanogen CEO Kirt McMaster is Bond's chief business officer, while prominent analyst Horace Dedieu is a co-founder and chief strategy officer.

Bond is actually a rebranding and broadening of an existing e-bike venture, Smide, that has been up and running in Zurich, Switzerland since 2016.

Unlike rival bike-sharing services, McMaster says Bond competes more with cars than scooters or walking.

"Jump does not substitute a car," McMaster said in an interview. "This substitutes a car."

What's next: McMaster says the company hopes to operate in Silicon Valley, Southern California and a few other West Coast cities.

Go deeper

New York City schools will not fully reopen in fall

Photo: Spencer Platt/Getty Images

New York City Mayor Bill de Blasio announced at a press conference on Wednesday that schools will not fully reopen in fall, and will instead adopt a hybrid model that will limit in-person attendance to just one to three days a week.

Why it matters: New York City, once the epicenter of the coronavirus outbreak in the United States, is home to the nation's largest public school district — totaling 1,800 schools and 1.1 million students, according to the New York Times. The partial reopening plan could prevent hundreds of thousands of parents from fully returning to work.

Treasury blames lenders for PPP disclosure debacle

Illustration: Aïda Amer/Axios

The U.S. Treasury Department is pointing the finger at lenders for errors discovered in Monday's PPP data disclosure.

What they're saying: "Companies listed had their PPP applications entered into SBA’s Electronic Transmission (ETran) system by an approved PPP lender. If a lender did not cancel the loan in the ETran system, the loan is listed," a senior administration official said.

Updated 39 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 11,863,477 — Total deaths: 544,949 — Total recoveries — 6,483,402Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 2,996,679 — Total deaths: 131,486 — Total recoveries: 936,476 — Total tested: 36,878,106Map.
  3. Public health: Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: How the pandemic changed mobility habits, by state.
  5. Education: Harvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.