E-scooter Unicorn Bird Acquires German Competitor Circ

Image
Bird-Circ

Santa Monica-based Bird, the e-scooter major has announced acquiring European competitor Circ for an undisclosed amount. Notably, the firm also announced that it has raked up $75 million more for its Series D financing which now totals $350 million.

Berlin-based Circ was founded by Carlos Bhola, IQ Sayed, and Lukasz Gadowski in 2018 as a firm that made the highest-quality rides with custom-made light electric vehicles. The firm had picked up €55 million in funding last January when Target Global led the round with the help of signals Venture Capital, and Idinvest Partners. The firm has entered 12 other countries including Germany, Switzerland and the United Arab Emirates of the world using that amount. As part of the deal, 300 Circ employees will join Bird’s offices in Europe.

Lukasz Gadowski, the CEO of the firm who is known for founding food delivery service Delivery Hero through a press release said that “With deep city partnerships and leading technology, we have established ourselves as the micro-mobility leader in Europe. As a combined company with Bird, we will be able to significantly accelerate our mission throughout Europe to provide safe, available, affordable, convenient, and sustainable rides.”

Travis VanderZanden, the CEO and founder of Bird through a statement said that "Investors today are looking for financially disciplined companies with a clear path to profitability. Circ’s laser focuses on treating cities as their number 1 customer and their mindset of prioritizing profitability overgrowth."

It will be interesting to see how both the firms combine together and deliver in the region and challenge the likes of Lime.

 

Image Courtesy : W7news

Add new comment

About Author