olulo
Latest round
- Series A
Last raised
- Aug 2020
Total raised
- $4.5M
Investors
- 3
About olulo
Founded in 2015 and headquartered in Seoul, South Korea, Olulo specializes in urban mobility solutions through scooter and bicycle rental services., Ltd.Olulo Inc." The platform operates via a user-friendly mobile app, allowing customers to easily locate, unlock, and rent scooters and bicycles across various urban areas. The service is designed to cater to individuals seeking convenient and efficient transportation options for short-distance travel, thereby enhancing urban mobility. Customers include city residents and tourists in major metropolitan regions such as Seoul, Busan, and Incheon, as well as in selected cities across Gyeonggi Province.Olulo Inc. generates revenue primarily through pay-per-ride transactions facilitated via its mobile application. Users pay to access the scooters and bicycles, with pricing structured around per-minute or per-ride fees. The service also offers potential subscription models for regular users, enhancing customer loyalty and ensuring recurring revenue streams. The company’s flagship offerings, namely the Kickgoing scooters and bicycles, are marketed directly to consumers in urban locales, establishing a direct-to-consumer business model. Transactions occur in real-time as customers engage with the app, making payments seamlessly integrated into their rental experience. The investment will help Olulo meet the demands for short- and medium-distance movement within the city by broadening its offerings from electric kickboards to electric bicycles. The company is planning to target expansion into additional urban markets across South Korea, enhancing its service coverage and accessibility. Specific timelines for these expansions are yet to be announced.
Who invested in olulo
3 investors across 1 round
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Funding rounds
Series A
Aug 20, 2020
Amount
$4.5M
Investors
Questions about olulo
Who invested in olulo?
olulo has 3 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has olulo raised?
olulo has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did olulo last raise money?
olulo's most recent round on record is a Series A, in Aug 2020.
What does olulo do?
Founded in 2015 and headquartered in Seoul, South Korea, Olulo specializes in urban mobility solutions through scooter and bicycle rental services.
Where is olulo headquartered?
olulo is headquartered in Seoul, South Korea.
Which VCs invest in companies like olulo?
Among active investors with capital left to deploy, Shanghai State-owned Capital Investment Leading Fund, Hui Hua Fund, Yufu Capital and ICBC Capital Management back transportation services companies at olulo's stage. Their profiles are linked below.
VCs backing transportation services startups at Series A
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