March 3, 2020

Bolt Announces Closing of Series A Funding Round and Ed Welburn Joining as Advisor to the Company

SOURCE

March 03, 2020 09:00 AM Eastern Standard Time

MIAMI--(BUSINESS WIRE)--Bolt Mobility, a company dedicated to revolutionizing transportation by providing simple, safe and sustainable solutions, has closed a Series A funding round bringing total investment to $30 million at a $100 million valuation. The funding round was led by Rokk3r Fuel ExO, a Miami-based global venture capital firm geared toward early-stage companies propelled by exponential technologies.

“I’m very excited for these developments and the momentum they create for the immediate and long-term future.”
Bolt Mobility also announces Ed Welburn, former Vice President of General Motors Global Design, has joined the company as an Advisor.

During Welburn’s 44-year career at GM, he was considered one of the premiere minds in automotive design.

“In securing Series A funding and bringing Ed Welburn on board as an advisor, Bolt Mobility is getting the resources and expertise it needs to both scale and advance our mission of bringing simple, efficient transport solutions to populations around the world,” said Bolt Mobility CEO Julia Steyn. “I’m very excited for these developments and the momentum they create for the immediate and long-term future.”

Founded in 2018, Bolt Mobility provides personal e-scooters at strategic locations in urban areas that allow for point-to-point travel. Bolt Mobility’s technology is sought after by forward-looking cities seeking to alleviate traffic congestion, helping municipalities transition infrastructure to a greener, more-efficient model.

“I’m thrilled to join Bolt Mobility’s extraordinary team and contribute to the innovative work this company is doing to make urban areas more sustainable,” said Welburn. “I have no doubt that we can achieve truly impressive things together.”

About Bolt Mobility

Bolt Mobility's mission is to work with cities on a local level to solve traffic and parking congestion and reduce their carbon footprint with safe, sustainable, and equitable transport options. Bolt’s strategy is focused on design of technology solutions for the micromobility ecosystem. Bolt's leadership team has experience developing sustainable transportation solutions and emerging technologies. A commitment to design ensures rider safety, convenience, and affordability. Bolt's approach to working with cities is focused on partnership, inclusivity, and equity. Bolt currently has permits to operate its e-scooters in multiple cities across the US & internationally. For more information, please visit https://www.micromobility.com/.