Usain Bolt’s e-scooter startup valued at $100M

Early-stage investors have led a $30 million Series A investment in Bolt Mobility, valuing the electric scooter startup at $100 million. The Miami-based company builds its own scooters and operates a rental platform in select cities. Usain Bolt, who holds the world record in the 100-meter dash, is one of Bolt Mobility’s co-founders.

Why it matters: Bolt, led by former General Motors mobility executive Julia Steyn, is entering a crowded field in which many competitors are losing money or cutting back operations after two years of explosive growth.

Details: The funding round was led by Rokk3r Fuel ExO, a Miami-based global venture capital firm geared toward early-stage companies.

  • Bolt currently operates 5,000 scooters in Fort Lauderdale, Miami, Alexandria, Arlington, Richmond, Nashville, Atlanta, Portland, and Paris.
  • It is approved to soon launch in several more cities across the U.S. and Europe.

Of note: Bolt also announced that Ed Welburn, GM’s former vice president of global design, is joining the company as an advisor.

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