Ridepanda, a San Francisco, CA-based provider of a micro-mobility-as-a-benefit platform, raised $7.5M in equity and debt funding.
The round was led by Blackhorn Ventures and Yamaha Motor Ventures, with participation from existing institutional investors, including Proeza Ventures, Porsche Ventures, Oyster Ventures, Somersault Ventures, General Catalyst, and new investor, Urban Us Capital.
The company intends to use the funds to grow the team across engineering, sales, and marketing, and its business reach, with plans to launch in more cities over the next 24 months.
Co-founded by Chinmay Malaviya and Charlie Depman in 2020, Ridepanda provides its partner companies and public sector customers with a platform for employees to lease a broad selection of e-bikes, pedal bikes, and scooters through their benefits package. The company uses best practices and industry standards to vet and curate their vehicle marketplace by partnering with manufacturers including Specialized, Giant, Diamondback, and Dahon, as well as brands like Segway and Okai. For all their vehicle offerings, the company employs a rigorous series of safety testing and charging management protocols.
It currently operates in Seattle, San Francisco, and New York City.
The company’s partners include Amazon, Google, Goodwin Law, and the County of San Mateo, which benefit through improved employee wellness and retention, a more positive post-Covid return to work and a reduction in drive alone rates, and ESG reporting.
FinSMEs
10/11/2023