# Motto

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/motto

- Industry: Transportation Services
- Headquarters: Paris, France
- Website: www.ridemotto.com
- Total disclosed funding: $2.2M
- Latest round: Seed (Jan 25, 2022)
- Investors on record: 4

## About

Based in Paris, France, and founded in 2021 by Driss Ibenmansour, Motto offers electric bicycles available by subscription, with a concierge service. In March 2022, Motto raised EUR 4 million in venture funding from new investors CASSIUS Family and Founders Future.

The company provides electric vehicles on subscription and offers mobility that includes access to an electric bike along with a concierge and maintenance service. Motto's bikes have a motor in the rear wheel that helps customers pedal up to a speed of 25km/h. The bike also consists of a carbon belt and a removable battery. The battery is integrated into the seat tube which allows the customers to access the battery by removing the saddle. The company offers two different models, a step-over model and a low-step model. The company's vehicle includes features such as SC brakes with integrated light, front and rear led lighting, a built-in anti-theft alarm, and a GPS plotter. ETC. The company's motto application provides features including GPS routes for cyclists, real-time navigation data, geolocation of the motto bicycle, and (remote) unlocking. The company offers 2 types of bicycles - The Classic, which is a low bar bicycle, and The Original, which is a high bar bicycle.

The company generates revenue by charging a monthly subscription fee of EUR 75 for the bicycle.

The company plans to use the funding to accelerate its deployment and also plans to expand into France and Europe in 2022, and in the United States from 2023. The company also plans to reach thirty employees by the end of 2022, do R&D on the vehicle, and expand internationally.

## Funding rounds

- Seed, Jan 25, 2022, $2.2M — Kima Ventures, Founders Future, Cassius, Niche Capital

## Investors

- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Founders Future (https://capitalatlas.ai/funds/founders-future) — Seed
- Cassius (https://capitalatlas.ai/funds/cassius) — Seed
- Niche Capital (https://capitalatlas.ai/funds/niche-capital) — Seed