Company have invested into Ridemovi, one of leading bicycle and bike sharing service based upon EV platform, which have base in 2 countries i.e. Italy and Spain. Company have not disclosed the size of investment made through Ocorian Fund Management but surely making its drive successful to take participation into ramp up action to mitigate climate change and adopt climate-friendly initiatives.
Presently Ridemovi have more than 2 million users with 30000 units (bicycle and e bike, e scooter) available in 17 cities, where specialized funds will help them to grow where company is targeting to reach upto 70000 units.
During pandemic the e bikes and e scooter have become main source of transport which have given new lease to life.
“Ridemovi is the leading Italian company in the micro-mobility sector and has developed a very efficient and scalable business model,” said Generali Investments’ portfolio manager Stefano Ferrari.