# Veo

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

- Industry: Software
- Headquarters: Chicago, US
- Website: www.veoride.com/
- Total disclosed funding: $16M
- Latest round: Series A (Jul 13, 2021)
- Investors on record: 4

## About

Veo is a micromobility company dedicated to providing innovative electric vehicle solutions primarily for urban commuters seeking sustainable transportation alternatives.Founded in 2017 in Chicago, US, Veo specializes in developing micromobility solutions. Candice Xie and Yanke Tan are the founders, with Candice Xie also serving as the CEO. The company successfully raised USD 16 mn in Series A funding on July 13, 2021, led by Autotech Ventures and including participation from FJ Labs, Interplay, and UP.Partners. This funding round represents the total amount raised to date, confirming their strategy in the micromobility sector.Veo focuses on advancing micromobility solutions with a diverse offering of electric vehicles, primarily aimed at urban commuters and individuals seeking alternatives to traditional transportation methods. Their flagship product, the Apollo Cargo, is the first dockless shared cargo e-bike in North America, designed to carry up to 100 pounds. This innovative vehicle features front and rear baskets, throttle-assist for ease of use, and compatibility with standard pannier bags. The Apollo Cargo is set to launch in Washington, D.C., and Columbus, OH, during the summer of 2025. Additionally, Veo's offerings include other shared electric bikes and scooters available in over 50 cities across the United States, including major markets such as Los Angeles, New York City, and Washington, D.C.Veo generates revenue through a combination of direct-to-consumer sales and subscription models, with various pricing structures aligned with their product offerings. Customers can engage with Veo through the VeoPlus subscription service, which provides discounted rides for regular users. The Apollo Cargo and other vehicles in their fleet can be accessed on a pay-per-ride basis via the Veo app. The pricing strategy is designed to accommodate both occasional riders and regular commuters. Partnerships with municipalities and businesses further support Veo's expansion into new markets, providing additional revenue streams through collaborative agreements.Veo plans to utilize the recent funding of USD 16 mn from its Series A round to expand its custom-designed, shared-use scooters and bikes, aiming to transform micromobility operations and enhance sustainability in the industry. Upcoming product launches include the Apollo Cargo e-bike in Washington, D.C., and Columbus, OH, set for the summer of 2025. The company is also targeting expansion into new markets, further enhancing its presence in urban areas across the United States.

## Funding rounds

- Series A, Jul 13, 2021, $16M — Interplay, Autotech Ventures, FJ Labs, UP.Partners

## Investors

- Interplay (https://capitalatlas.ai/funds/interplay) — Series A
- Autotech Ventures (https://capitalatlas.ai/funds/autotech-ventures) — Series A
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- UP.Partners (https://capitalatlas.ai/funds/up-partners) — Series A