# PUMP

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

- Industry: Transportation Services
- Headquarters: Seoul, South Korea
- Website: www.xingxingmobility.com
- Total disclosed funding: $16M
- Latest round: Series B (Dec 21, 2022)
- Investors on record: 5

## About

PUMP, based in South Korea, specializes in electric scooters and bikes that enhance urban mobility, offering sustainable solutions for short-distance travel.Founded in 2019 in Seoul, South Korea, PUMP develops electric scooters and bikes tailored for urban transportation. The firm has completed three funding deals, with the latest being a Series B round that raised KRW 20 billion on December 21, 2022, led by SK and T.S. Investment, along with participation from KB Investment, KICC, and Shinhan Capital. The company was co-founded by Murray Hyde and Trish Hyde, while Lil Pump currently serves as CEO.PUMP offers innovative mobility solutions aimed at improving urban transportation through electric scooters and bikes. These products focus on efficiency and sustainability, addressing challenges like traffic congestion and pollution, and are designed for a diverse clientele including commuters, tourists, and eco-conscious individuals. The main markets for PUMP’s offerings are major cities in Asia and Europe, where demand for alternative transportation is increasing.PUMP's revenue model includes direct-to-consumer sales and subscription services for electric scooters and bikes, facilitated through a mobile app. The company collaborates with local governments and businesses to enhance its urban presence. Their pricing plans offer daily, weekly, and monthly rental options, appealing to various customer preferences. Premium electric scooters contribute to user engagement and generate consistent revenue through both sales and service subscriptions.Following its Series B funding round in December 2022, which raised KRW 20 billion, PUMP plans to enhance its governance structure to stabilize business management. The firm is focused on launching new products and expanding its presence in additional urban markets in Asia and Europe, aiming to fulfill the increasing demand for modern mobility solutions.

## Funding rounds

- Series B, Dec 21, 2022, $16M — KB Investment, SK, Shinhan Capital, T.S. Investment, KICC

## Investors

- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series B
- SK — Series B
- Shinhan Capital (https://capitalatlas.ai/funds/shinhan-capital) — Series B
- T.S. Investment (https://capitalatlas.ai/funds/t-s-investment) — Series B
- KICC — Series B