On behalf of our team at ONE MOTO HQ, I am excited to share that ONE MOTO has announced the next raise of $10 million in Pre-Series A. ONE MOTO as a company is now valued at $60 million (pre-money).
This new capital is all about enhancing the ONE MOTO expansion and rewarding sustainability – an engagement platform driven by technology supporting your investment. Over the course of the coming months, (as we complete the raise) we plan to deploy this funding to develop new technology and features, hire great talent, grow internationally, and expand our reach.
RELEASING NEW PRODUCTS AND TECHNOLOGY
ONE MOTO as a series of electric vehicles are designed to keep you moving. It seems appropriate then that ONE MOTO as a business model is designed to keep moving us, the ONE MOTO team. As a sustainably focused business we feel a deep responsibility to be constantly upgrading our offerings every week, month, year to deliver value to you and our customers.
With this new capital, we will accelerate efforts to release new growth to our members, customers and partner experience. In just the past months, we’ve announced our expansion into 13 territories in India, four in Australia with deep conversations to launch in the UK, Kenya, Spain, Ghana, Ethiopia, Bahrain, Saudi Arabia, Qatar, Jordan, Egypt, Pakistan and the United States. The new fleet in prototype phase includes the modular development of our electric two-wheeled vehicles, enhanced app and battery technology. We’ve been developing the range of vehicles with an international team of designers and engineers. I can tell you that the new vehicles in our pipeline are incredible and, when we announce our Series A round in Q1 next year, will see the launch of several assembly plants strategically placed around the world including; India, UK, Kenya, Australia, Pakistan and The United Arab Emirates.
HIRING GREAT NEW TALENT
In order to keep building and researching at a breakneck pace, we are going to be growing our team dramatically. In the last 18 months, we grew in valuation from $8m and a team of four, to $60m and a core team of 20 located in UK, UAE, India, Australia and Kenya. This is just the beginning. Our 2021 forecast of growth was four territories by 2021 and as we close out Q2 we are already at 21 territories with another 15 expected to be signed by Q4. This leads us towards our 100 cities, 1m vehicles and 1bn tonnes of CO saved by 2028. If you’re reading this and thinking ONE MOTO might be the right place to grow your career, please check out our Careers page.
ONE MOTO will become more accessible around the world and expand in countries throughout Middle East, Africa, Europe, Asia, and beyond. We’re growing aggressively through a solid network of franchise partners. From ‘micro-investors’ to corporate dealership networks. We know that there are many of you around the world who are interested in joining the ONE MOTO community of commuters but haven’t been able to yet. We’re going to change that.
BRINGING ONE FLEET TO YOU
ONE Fleet is our game-changer in the last-mile sector. Offering fleet financing to all delivery aggregators, through a global financier. We currently have a $50m fund allocated to offer financing for corporate fleet operators and this is just for the GCC region. Our CEO, Adam Ridgway is heading to the UK in October to continue discussions of a UK assembly plant and a UK wide roll out plan. We are going all out!
ONE MOTO has already began discussions with key sustainably focused celebrities to bring ONE MOTO to our customers through “value aligned personalities”, collaborations with global brands and film production houses.
We can promise you will see ONE MOTO on more and more platforms in the coming year.
A NOTE OF GRATITUDE
I want to thank you all for being ONE MOTO shareholders. I started ONE MOTO as a ‘vehicle’ to bring change. For many years building ONE MOTO was a challenge, educating to the benefits; of EV to the environment, the pockets of the consumer and to the fleet operators. In the early days we didn’t know if what we wanted to build was even possible. What always pulled me through were the encouraging stories from ONE MOTO customers and a deep sense that the technology we were building really mattered.
We’ve been featured on CNN, been awarded UAEs Most Sustainable Business of the Year, featured in international press, Entrepreneur magazine, and had the most positive feedback from customers in each country we sell. Hearing these stories and receiving requests to be a part of ONE MOTO from employees, customers, shareholders, JV partners and as a franchise network harnesses that the hard work the team have committed is well received.
Last week, I told the ONE MOTO team the new injection of capital will require both a heavy dose of humility and the same sense of urgency and tenacity that got us here. We will face off head-to-head with the largest and most valuable EV companies in the world–some of which have no qualms copying us very directly. We will engage in highly ambitious research and development and release products for you on the cutting edge of sustainable mobility, electric vehicles and the technology that drives them.
We are grateful for the opportunity to take on these new challenges. I ask that you keep sharing your stories with us and holding us accountable to our shared mission: #betheONE to bring change.