Overview

VeoRide offers shared electric scooters and bikes as an alternative to traditional urban transportation, aiming to reduce car dependency. Users can rent these vehicles through a mobile app, which allows them to locate, unlock, and pay for rides easily. The pricing model includes a base fee and a per-minute charge, making it flexible and affordable for urban residents, students, and commuters. VeoRide operates in 50 cities across the U.S. and focuses on safety and user experience, with features like built-in blinkers on their vehicles. The company stands out from competitors by continuously improving its fleet based on user feedback and technological advancements. VeoRide's goal is to provide accessible, eco-friendly transportation options while engaging with the community and promoting a culture of safety and innovation.

Simplify's Take

What believers are saying

• Veo's partnerships with universities increase brand visibility and user adoption.
• Competitors' financial struggles may allow Veo to capture additional market share.
• Throttle-assist Class 2 e-bikes attract users preferring effortless riding experiences.

What critics are saying

• Lime's new LimeGlider could attract more riders in key markets like Seattle.
• Slow bike infrastructure development may hinder Veo's service expansion.
• AI tools for parking compliance may require additional investment and adaptation.

What makes Veo unique

• Veo designs its fleet in-house, focusing on safety and user experience.
• The company integrates AI for parking compliance, enhancing operational efficiency.
• Veo's #StayInYourLane campaign promotes safety and compliance in urban areas.

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Funding

Total Funding

$16M

Meets

Industry Average

Funded Over

1 Rounds

$16,000,000

Series A

Jul 2021

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Meet Average

Industry standards

Ind Avg. $15M

$3.7M

$5M

$8.2M

$15M

$16M

$30M