One Moto is joining forces with AVIS, and is currently in talks to build the first EV manufacturing facility in the UAE.
Jan 17, 2023
One Moto, a UAE-based electric mobility and last-mile delivery startup, has raised $150 million from an undisclosed investor in the UK. The funding will be used to expand the company’s footprint in the country and lead decarbonisation efforts for the last-mile delivery industry.
According to the investment agreement, One Moto will offer finance to fleet operators to expand an electric delivery fleet from just £3 per day. The startup’s goal is to electrify all last-mile vehicles in the UK by 2026, reducing 168,000 tonnes of CO2 each year and dropping 50% production of harmful pollutants as a result of petrol vehicles.
“This is a monumental milestone for our expansion roadmap pan-Europe,” Adam Ridgway, CEO of One Moto, tells StartupScene. “With the support of the finance deal, we expect to deploy up to 30,000 across the UK in H1 2023. This harnesses our conversations with UK Trade & Investment to open the first European assembly plant. ONE MOTO is supporting leading last-mile food delivery platforms, independent outlets and enhancing the rider welfare through data-rich AI to optimise routes, zones and pay.”
One Moto plans to deploy up to 30,000 EVs across the UK in the first half of 2023. According to the startup, replacing traditional fleet vehicles will take time as it involves support from several service sectors such as Battery As A Service, allowing drivers to work undisturbed, and SaaS Fintech solutions, providing a data rich AI backed cloud system to optimise fleet and rider management.
One Moto is joining forces with AVIS, and is currently in talks to build the first EV manufacturing facility in the UAE.
Founded in 2019, One Moto is an electric vehicle company that focuses on food service and last-mile delivery. While the startup is headquartered in the UK, it has global HQ in UAE with presence in UK, Iraq, India, Bahrain, Jordan, Sri Lanka, Ethiopia, Chile and Nepal.
The UAE is one of the most funded startup ecosystems in the MENA region. In 2022, the UAE raised $1.19 billion, according to Magnitt’s latest Emerging Ventures Market Report. While fintech received the lion’s share of funding, transportation and logistics followed suit in startups operating in emerging markets.
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