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Where others may have seen competition, e-bike innovator Zoomo saw an opportunity.
As part of its global operations, the Sydney-based scale-up has long had a presence in the UK and continental European markets with customers including Gorillas, Uber and Just Eat, but now its operations in the region are about to take on a new dimension thanks to a partnership with EAV.
The agreement will see EAV's cargo bikes, which are one of the largest on the market with a cargo volume of 2,000 litres and a 150kg payload, brought into Zoomo's product portfolio to suit the needs of the growing urban logistics delivery sector.
Zoomo will thus become EAV's official fleet partner, offering financing for EAV’s range of vehicles alongside its maintenance guarantee and telematically enabled fleet management software.
"We are bringing the vehicle leasing model from the automotive space to light electric vehicles," says Zoomo co-founder and chief revenue officer Michael Johnson, who along with fellow co-founder Mina Nada featured in the 2023 Australia's Top 100 Young Entrepreneurs list.
"By integrating different vehicle types into our platform, like EAV e-cargo bikes, with leasing, servicing and telematically enabled software solutions, we are able to provide customers in urban logistics with a one-stop solution for all their delivery fleet needs.
"EAV’s cargo bikes are highly innovative and will enable us to offer more efficient and sustainable fleet solutions to our customers in existing and new segments, like parcel delivery."
The British partner is also expected to benefit from Zoomo's global reach in Australia, North America and Europe.
"Zoomo are perfectly placed to support the take up of EAVs in city centres across the world, and drive the positive difference that we’re pushing for. We are thrilled to have a like minded partner on our mission to revolutionise the last mile, and to create cleaner, safer cities," says EAV founder and CEO Adam Barmby.
"This partnership maximises our complementary expertise – with Zoomo’s servicing, financing and software making the switch to light electric vehicles a simple step for our shared customers.
"Meanwhile, we will continue to ensure every single vehicle meets the highest specifications for build and rider-experience, as we innovate on solutions which further reduce the cost and the emissions impact of urban logistics."
The partnership represents a positive development following Zoomo's decision last month to cut its workforce by 8 per cent, in a bid to 'accelerate' the path to company-wide profitability in 2024.
“It primarily affects employees in our corporate head office, as we bring central overheads in line with regional profit," the company stated at the time, within a few months of securing $24 million in equity funding to support core technology development.
The raise was led by Grok Ventures and Clean Energy Finance Corporation (CEFC), with participation from other major existing shareholders. Zoomo’s existing backers include AirTree Ventures, Skip Capital, Collaborative Fund, SG Fleet (ASX: SGF) and more. In mid-2022 Zoomo struck a partnership deal with SG Fleet to electrify fleets in the parcel delivery and inner-city logistics segments.
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