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Ridepanda raises additional funding of $3.75M from Leading Investors to Create Healthier and Greener Communities

Key investors include Porsche Ventures, Yamaha Motor Ventures, Proeza Ventures and General Catalyst

We’re on a mission to revolutionize the transportation industry and create a more sustainable and climate-friendly future through e-rides. We’re excited to welcome Porsche Ventures, Yamaha Motor Ventures, Proeza Ventures, Moving Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures and 0 Ventures as new investors in Ridepanda, in addition to our existing investor General Catalyst and announce the raise of $3.75 million in additional funding. Our partners will accelerate our quest for a greener future and pave the way for healthier, more connected communities that reduce carbon emissions and pollution through environmentally-friendly modes of transportation.

With the transportation industry accounting for roughly 29 percent of greenhouse gas emissions, we’ve noticed that consumers are starting to prefer eco-friendly vehicles that decrease their carbon footprint. However, it can be hard for people to choose the right e-ride that meets their needs. Figuring out insurance, maintenance, and financing can also present challenges, or simply finding out how to test drive an electric vehicle. That's where Ridepanda comes in.

We launched Ridepanda in 2020 with a clear goal in mind - to make it convenient and easy for people to discover, experience, and purchase electric rides including e-bikes, e-scooters, and e-mopeds. Through our easy-to-use platform, consumers can easily and affordably make practical climate-smart transportation choices through our robust offerings of zero-emission clean energy vehicles. We believe that by making it accessible for people to find the best electric vehicle option for them, we can get gas-guzzling vehicles off the road and replace them with environmentally-friendly modes of transportation that allows people to get outdoors and reduce their carbon footprint.

In the coming months, we plan to expand our offerings of electric vehicles, hire talent across the U.S., and build curated online and offline experiences to enable the adoption of light electric vehicles in every American home. We thank our new partners Porsche Ventures, Yamaha Motor Ventures, Proeza Ventures, Moving Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures, 0 Ventures, and we are excited to work with them to propel our mission of cities that run on light, environmentally-friendly vehicles. Let's go electric and build a healthier and greener future. We are also actively hiring, come join us.

Here what some of our investors have to say about the partnership :

“Ridepanda has proven to be a leader in a fast-growing market and we are excited to announce our investment into the online marketplace for electric micro-mobility at such an early stage,” said Stephan Baral, Head of Porsche Ventures Region US. “Although both companies have goals of building a sustainable future and getting more people to use clean energy vehicles, our unique perspectives and areas of expertise will provide valuable opportunities for mutual growth. Ridepanda is able to fulfill the burgeoning demand for e-rides, and we’re excited to invest in a mission-driven company that is dedicated to transforming the transportation sector for good.”

“Post COVID-19 we see more willingness by individuals to use micromobility on a regular basis, given its safety, convenience, affordability, and sustainability, increasing demand for e-bikes, e-scooters, and e-mopeds. This has led to a clear consumer need for a trusted specialized mobility marketplace that makes the discovery and decision-making process more user-friendly and informed for each specific use case. We are excited to partner with Ridepanda, whom we believe is best positioned to become this trusted platform and increase e-ridership.” shared Enrique M. Zambrano, Principal at Proeza Ventures.

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