You can never underestimate the appeal of star power, even in the world of mobility. Eight-time Olympic gold medalist Usain Bolt is proof of that. As detailed in an Axios report, the celebrity athlete’s Bolt Mobility electric scooter company has closed out its Series A funding round, bringing its total investment to $30 million, as other micro-mobility companies struggle to maintain enough capital to stay afloat.
- Bolt Mobility was launched in 2018 and currently operates e-scooters in nine cities around the world, including eight in the U.S.
- The $30 million investment in the company’s Series A funding round brings Bolt Mobility’s valuation to $100 million.
- Bolt Mobility continues to build its global leadership team, recently adding former GM VP Ed Welburn as an advisor.
With the recent funding, Bolt has solidified a major win as he looks to expand his micro-mobility company, Bolt Mobility.
The Miami-based company, co-founded by the celebrity athlete, recently closed its Series A funding round, bringing the total investment to $30 million at a $100 million valuation.
Bolt Mobility has been expanding its operations across the globe, and building its leadership team. (Photo: Bolt Mobility)
Bolt Mobility, launched in 2018, currently operates 5,000 scooters in Fort Lauderdale, Miami, Alexandria, Arlington, Richmond, Nashville, Atlanta, Portland, and Paris. According to a 2019 Reuters report, Bolt Mobility plans to be in operation in 50 cities across the globe this year.
Bolt Mobility has also announced that Ed Welburn, General Motors’ former vice president of global design, has joined the company as an advisor, as Axios reports.
The company’s Series A funding round was led by Rokk3r Fuel ExO and Sofreh Capital.
WHY THIS MATTERS
The closing of Bolt Mobility’s Series A funding round, with a total investment of $30 million, highlights the momentum the company continues to gain in the sector, due in part to the global appeal of Usain Bolt. Also, adding former GM VP Ed Welburn to the team in an advisory role gives the company a lot more clout, and could help substantially with Bolt Mobility’s overall expansion plan.