Modmo Technologies, a Dublin, Ireland-based producer of high-tech electric bikes, closed an €8.7M seed funding round.
The company closed out 2021 with a €5m investment from Ballymore Group CEO Sean Mulryan, in addition to €2.7M raised in September and €1M in March from several angel investors.
Led by 25-year-old Irishman Jack O’Sullivan who relocated to Vietnam to work on product development in 2019 and launched the electric bicycle business in 2020, Modmo is a maker of high-tech electric bikes and is currently delivering to 8 European countries with plans to expand to North America with the opening of their first dealership in Vancouver BC, Canada in March.
Today, the company has 35 engineers based in Vietnam and expects the headcount to exceed 100 this year.
FinSMEs
04/02/2022