# Rybit

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

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Singapore, Singapore
- Website: www.rybit.io
- Total disclosed funding: $10M
- Latest round: Series A (Jul 6, 2023)
- Investors on record: 7

## About

Based in Singapore, and founded in 2020, Moov Technology (S) Pte Ltd., trading under the name Rybit, operates as an electric bike rental platform for personal and commercial use using a mobile application. The company also provides transportation and deployment software solutions. The company was co-founded by Mark Lin (CEO), and Jeffrey Chang (CTO). In July 2023, Rybit raised USD 6 million in series A funding from investors AVA Angels, Cherubic Ventures, Chung-Hwa Telecom, Colopl Next, Cornerstone Ventures, Flexport, Inc., and PChome. 

Rybit operates as a manufacturer of electric bikes for individual consumers (B2C) and provides a last-mile delivery fleet management platform for businesses (B2B). The B2C aspect involves leasing electric bikes to riders on a monthly subscription basis. On the B2B side, the company incorporates an IoT system in the bikes to track various data points, including location, speed, and errors, to efficiently manage the delivery fleet.

## Funding rounds

- Series A, Jul 6, 2023, $10M — Cherubic Ventures, Colopl Next, Chung-Hwa Telecom, Cornerstone Ventures, Flexport, Inc, PChome, AVA Angels

## Investors

- Cherubic Ventures (https://capitalatlas.ai/funds/cherubic-ventures) — Series A
- Colopl Next (https://capitalatlas.ai/funds/colopl-next) — Series A
- Chung-Hwa Telecom — Series A
- Cornerstone Ventures — Series A
- Flexport, Inc — Series A
- PChome — Series A
- AVA Angels (https://capitalatlas.ai/funds/ava-angels) — Series A