Uklon acquired for $155M, Bolt acquired Viggo, scooters down 9% and Deliveroo exits HK

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Ride-Hailing & Taxi, Buses & DRT  🚙🚐

Kyivsta, Ukrainian largest telecom operator, to acquire ride-hailing firm Uklon for US$155M. The deal was announced by Veon, Kyivsta’s parent group (remember that name). Uklon operates in 27 cities across Ukraine, has over 100,000 drivers, and in 2024 generated $65M in revenues and completed 100 million rides & 3 million deliveries. In 2023, it entered Uzbekistan, where Veon’s subsidiary Beeline is a key player. Future expansion plans include Kazakhstan, Pakistan, and Bangladesh. The deal is awaiting regulatory approval. 

Bolt acquires Viggo, calling "Check" ♟️ in Denmark 🇩🇰 ! Denmark is a highly regulated taxi market, which means ride-hailing players need to work with established taxi companies for supply. In August 2024 Uber announced a partnership with DRIVR, launched in February this year, and it seemed that Uber ‘cracked’ the Danish market. Now Bolt is acquiring Viggo, a local taxi company, adding 300+ Electric Vehicles, 500+ drivers and a large rider customer base; and, in addition, partnering with Taxi 4x27 to add some 600 more vehicles to its supply. 

There are rumours that Uber is in talks to acquire BluSmart, the Indian EV taxi company. BluSmart, which has over 5,000 EVs on its fleet, raised a total of roughly $500M, of that more than $300M in debt. In January the company was looking to raise another round, at a $335M valuation. The round has not been completed. BluSmart denies talks and denies liquidity issues. Also BluSmart to shut down Dubai operations to focus on core Indian market. 

Taxi VAT in the UK: The question of a 20% VAT for taxis (minicabs) outside of London is going to the UK Supreme Court. In previous chapters we saw Uber's drivers classified as workers, which meant Uber carries VAT liability; then Uber turned to the court to apply the ruling to the entire UK (London has different regulation); then multiple battle wins for each side; now Delta Taxis and Veezu (who are against imposing VAT on taxi rides) are going to the Supreme Court, which will decide whether the 20% VAT applies for the whole UK. The decision, obviously, has huge cost of living implications. Also Bolt in a letter to the UK government about withholding €200M investment over the past years because of the VAT uncertainty. 

Yango launches a $20M fund to back promising startups from LatAm, Sub-Saharan Africa and MENAP, from Seed to Series B, focusing on the Online-to-Offline, B2B SaaS, and fintech sectors. For Yango’s current list of services. 

Israeli antitrust authorities lean against approving the Gett acquisition. The deal, with Israeli parking company Pango, was signed May 2024, and has been under review since. It isn’t dead yet - the deal can still pass with certain fair trade product and data conditions, but will take some more time to complete. 

Ride-hailing Supply: Uber partners with Mevo and GVI, two New Zealand car-sharing platforms, to offer EVs to drivers and couriers. Uber partners with Grupo Autofin México to offer drivers rental vehicles in preferred terms. In the UK Uber is trying to recruit women drivers by offering 20 hours of free childcare. Yango Oman partners with Zumr to provide drivers with a financial relief program. InDrive partners with Fingular in Indonesia to launch InDrive Money. 

DRT: Via launches with Transport for Greater Manchester (TfGM), modernising the traditional “Ring and Ride” service the region had so far. The service serves circa 1,000 travelers a day. The Routing Company to launch a 132 vehicle microtransit operation in New York. Roger French on the Andover (Padam) ‘soft launch’ and Ironbridge (Via) DRT services. Nemi launches an on-demand taxi service in Sevilla.  

Bytes: According to the local Nigerian taxi union, since 2014 when Uber entered Nigeria - 2,500 apps have tried taking the big players out. None succeeded. Lyft to launch “Lyft Silver”, a simpler app version for seniors, later this year. Fetii partners with LineLeap, an event and nightlife app, to offer Fetii’s group transport services to LineLeap’s users. Yandex holds 97% of the taxi market in Kyrgyzstan. Bolt launches in Zaragoza, Spain. Grab and GoTo (Gojek) are still in (denied) talks. Uber Shuttle launches in Hyderabad. Kakao Mobility and Korea Tourism Organisation initiate dog travel map for pet owners. Emddi, Vietnam-founded ride-hailing and SaaS dispatch solution, launches next generation dispatch product. Guillermo Campoamor, Meep’s founder/CEO, shares his thoughts on MaaS in general and Scotland’s implementation plan specifically. A short and good read on MaaS. 

Tesla receives a license to operate transport services in California (non-autonomous). The license differs from that of ride-hailing companies, in that Tesla must own the vehicles and employ drivers. And for now, the permit only allows transport of Tesla employees, and not the general public. A possible first step at understanding fleet operations.

Curbivore, Los Angeles, April 11th 🚙🧺

The annual Curbivore conference brings together leaders from the worlds of new mobility, last-mile delivery, and curbside innovation - and you - #movingpeople readers - get discounted early bird tickets 🎟️. via this link. Not sure yet? That’s what teaser videos are for.

Car Sharing/renting 🚗

The Bundesverband Carsharing e.V. (German car-sharing association) publishes its January 2025 car-sharing report. Key takeaways: 

• 297 providers in 1,393 municipalities provide 45,400 car-sharing vehicle (as of Jan. 25)

• Vehicle numbers increased by 5.3% YoY; number of locations by 8.4%

• 7 free-floating companies offer 27,400 vehicles in 44 locations; 290 station-based and mixed companies offer 18,000 vehicles in 1,385 locations (simple average of 62 cars per operator)

• In the station-based and mix category, 20.9% are EVs (no data on free-floating operators)

Hyre, Scandinavian car-sharing, reaches 1st year bottom-line profitability. 

• Over €34M in revenue, operating >2,500 cars

• Norway and Denmark are profitable, but Swedish operations are not because of challenging government policies.  

Wible achieves 2nd EBITDA profitable year. 

• Revenue exceeded €7M

• The company saw a 15% increase in daily (not hour/minute) rentals and introduced monthly rentals. Those two services account for 16% of the company’s revenue. 

Panek suspends car-sharing operations citing, well, all of the above: improper use (vandalism), theft, car purchasing costs, interest costs, fuels costs, insurance costs and lack of parking discounts. A PR statement that sums up almost all the challenges the industry faces. At its peak the company had 2,700 vehicles on its fleet. Panek will continue to focus on day rentals, in Poland, Austria, Lithuania, Latvia and Slovakia. 

Miles is exiting Belgium, citing vandalism rates. Miles will take away its 1,400 cars, from the estimated 9,000 shared cars active today in Belgium. Vandalism is indeed a challenge in Belgium. On top of that, local market leader Poppy fought back by deliberately delaying profitability. 

Voltio’s membership program offers 10% discounts on trips, free one hour per month and comprehensive insurance for the price of €5.99 per month. Vulog launching a new car sharing service in Montreal, Canada. Free2move expands EV fleet in Germany. 

Interview with the CEO of MOL Limo, on: adding carpooling via partnership, customer segmentation, traveling abroad with the car, business customers (currently circa 15% of total revenue), the preference of users to choose diesel over electric, cleaning, airports and parking. 

Micromobility 🚲🛴

Fluctuo release their (super interesting!) 2024 annual report, and my key takeaways are: 

1) Bikes are replacing scooters: 

• Scooter usage is -9% in ridership and -16% in fleet size.

• While dockless and station based bikes are seeing growth in both ridership (+58% dockless, +12% station) and fleet size (+18%, +9%). 

2) Market is stabilising - growing slower and more efficiently. 

• Trips up 5% and end-use-revenue up 10%, while # of vehicles down 4%.

• Consolidations (Dott-Tier and SURF Beyond-Superpedestrian to name prominent two) and exits (Zity, GreenMobility) further stabilise the market.

Download the report for yourself here: European Shared Mobility Annual Review | Fluctuo

nextbike expands into Belgium with 185 bicycles and 80 e-bikes in 33 locations. Dott enters Greece, adding 300 scooters and becoming the 6th(!) operator in the city. Bolt launches scooters in Antwerpen. Bolt deploys over 1,000 extra shared e-bikes in Brussels, bringing the total to 2,500. Voi expands into three new cities in Germany. AllRide partners with Bolt to offer micromobility options on AllRide’s B2C MaaS platform. Sixt Share partners with felyx to offer mopeds on the Sixt platform. Micromobility insurance: Laka acquires Luko's e-scooter business from Allianz Direct in France

Yandex introduces new self-designed scooters. The scooter has a “start” button that connects via bluetooth to your phone, automatically starting the ride. Also new: flashing lights, front light, lighter, safer. Voi unveils three new models - two new e-bikes and one e-scooter. 

Nottingham approves a 1,300 e-scooters trial, with Dott. The region has a scheme operated by Superpedestrian from 2020- to 2023. Note the word “trial” - the UK government still hasn’t decided if scooters are to stay or not. 

The Rise and Reckoning of Scooter-Sharing: Economics, Operations, and Viability by Gad Allon. A good long read on the industry challenges (over-supply, maintenance, regulation, utilisation and then some) that led to appalling unit economics. By 2022, companies were achieving an estimated 30% gross profit. By 2024, Lime and Voi were showing profits thanks to disciplined growth, efficient operations, e-bike diversification and good city-relationship. Read here. 

Delivery 🍽🧺

Deliveroo exits the Hong-Kong market, seeing intensifying competition from Keeta (by Meituan). In the process, Deliveroo sold assets to foodpanda (Delivery Hero). Hong Kong represented only 5% of Deliveroo’s GMV, and was loss making, so OK. 

Keeta, the international brand by Meituan, is planning on expanding in the Middle East, to UAE, Qatar, Kuwait, Oman & Bahrain. In Saudi, Keeta is the #3 player with 10% market share, after launching only six months ago. This, thanks to heavy discounts and courier incentives. 

Uber terminates foodpanda Taiwan (by Delivery Hero) $950M acquisition due to antitrust objections. A merger would have seen Uber holding >95% of the market, as these two players each hold roughly 50% of the market. Uber to pay a $250M cancellation fee. 

Packfleet closes operations, hands over customers and drivers to DHL. This comes only one year after the company raised €9.1M, in what is probably a failure to get enough traction in the market. This follows Zedify going into administration a few weeks ago, sending a clear message about the ability of “new logistic” players to compete while operating at higher costs due to the needed investment in EV infrastructure and operations and lack of scale. 

Wonder acquires Tastemade, video storytelling and social content company. Getting the customer focus and data right: Zepto adds delivery of Apple devices after having over a million searches on the app. Zapp, UK rapid-delivery startup, expands to Dubai. Co-op and Uber Eats extend quick commerce partnership. Rapido is working out a food delivery subscription base model - replacing the industry standard commission based model, as the company expands from rides to delivery. 

Dingdong Maicai is profitable! Thai was achieved thanks to focusing on core cities and using private label brands. Btw, NYSE: DDL. 

Jahez 2024 numbers, key figures: 

• GMV ±$1.73 billion (6.5 billion Saudi Riyal, or SAR), up 28% YoY

• Net revenue ±$600M (+24.3% YoY) - 33.8% of GMV

• Adjusted EBITDA: ±$66M (+38%)

Zomato completes rebranding of parent company to Eternal. The rebranding now distinguishes between food delivery (Zomato), quick-commerce (Blinkit), B2B food supply (Hyperpure) and dining and events (District). See new website and founder letter: https://www.eternal.com. 

Swiggy launches ‘Fasting Mode’ - allows pausing food delivery notifications during specific hours of religious or cultural fasting. When is someone coming out with ‘Diet Mode’? 💡 

I love meeting new people and learning about innovation. Let’s get-to-know.

Autonomous & remote-driving 🤖℡

Grab signs MOUs with WeRide, Zelos (China), Motional, and Autonomous A2Z (South Korea) to assess technologies and deployment operations for delivery and mobility, from buses and shuttles to cars and delivery bots. This potentially fast-forwards Grab’s presence in the autonomous space. 

Pony.ai and ComfortDelGro deploy commercial robotaxis in Guangzhou. ZF Mobility Solutions received nationwide Level-4 testing approval for autonomous driving in Germany, in urban and regional roads (i.e. roads with speed of over 100km/h are excluded). Lyft to launch robotaxis in Atlanta in the summer, in partnership with May Mobility. Einride and DP World expands electric freight operations at Jebel Ali Port. 

I took a part in the Zenzic CAM Innovators Day (see event here) - and these are my thoughts:

• The UK is behind in terms of regulation and deployment. A partial list of countries we are behind are the US, China, Japan, South Korea, Switzerland, Germany, France and Norway. 

• An innovative primary legislation came out in September 2024 (see here) but secondary legislation is taking time. Mind you this is standard operations - the UK government still hasn't decided if scooters and DRT are here to stay.

• ETA to see autonomous vehicles on ground pushed back to 2027-2028. 

• Wisdom of the crowd #1: speed is important. There was a lot of talk at the event about challenges, inclusivity, safety, trust, nuances etc. - but we need to be quicker. 

• Wisdom of the crowd #2: airports, industrial / logistics, defence, agriculture. This doesn’t necessarily need to be about robocars - autonomy can reveal itself in many shapes and forms.  

Einride is in talks with banks for a US IPO, at a value of over $5 billion, as early as this autumn. Kodiak is looking at SPACing at a $2 billion valuation. 

Waymo’s (real-life drivers) were given permission to map roadways at the San Francisco International Airport (SFO) via a temporary permit, after failing to achieve a permit in 2023. Waymo is required to share data and commits to not implementing logistic solutions in the airport. Waymo offers 24/7 robotaxi rides in Silicon Valley for local residents, based on zip code. 

Zoox issued a voluntary recall for 258 vehicles, due to issues with its autonomous driving system that could cause unexpected hard braking. This follows an NHTSA investigation on two accidents where drivers crashed into the back of a Zoox. 

San Francisco, 2024: Waymo racked up 589 parking violations tickets, totaling at $65,065. That’s roughly $200 per car per year. 

Tier IV unveils robotaxi prototype. Holon partners with Beep in the US. Rivian enables hands-free highway driving on 135,000 miles of highway in the US and Canada. Autonomous bus riding in Sunderland, with Oxa. A Roger French detailed account. WeRide drives around Barcelona, for a few days. 

Flying cars 🚁

The very end for Volocopter. The company was acquired by Chinese-based Wanfeng, via a local subsidiary, for €10 million. The deal sees Wanfeng buying the assets, IP and contractual obligations. Wanfeng plans are not yet clear; the company only said that the acquisition will “accelerate the global development and application of the company in the low-altitude field”. Circa 160 of the 500 Volocopter employees will continue to work for the new entity. 

Lilium might also be getting a 2nd chance - there are acquisition talks with a Singaphorian entity. To be continued. Meanwhile Archer opens an office in Munich and recruits Lilium engineers. 

EHang completes EH216-S pilotless eVTOL flight in Mexico. Sora Aviation, UK eVTOL bus developer, gets first orders. Joby partners with Virgin Atlantic to offer electric taxis in the UK, connecting airports to city centers. Don’t hold your breath, there is no timeline. Blade Air Mobility partners with Skyports Infrastructure to offer flights between downtown Manhattan and JFK Airport. With “regular” helicopters, that is.

OEMs 🛺⚡️

So much is written about Tesla and Elon Musk. It is a sales nightmare. Musk is distracted, shares are down. Cars are being burned by acts of vigilantism. Dealers are crossed. Trump to the rescue. Problems run deep. I can’t read so much, so I just look at this and understand trends: 

Ferrari CEO says 40% of new clients are now under 40. And that’s doctor, when JLR's new strategy started making sense. 

Gig economy 💰

Comparing Whizz and JOCO. 

National Taxi & Private Hire Driver Survey 2024/25 - by TaxiPlus: 

• The average driver is a 44 YO self employed male, been in the trade for 10-15 years. Works an average of 45 hours per week (that’s actually good).

• Completes around three fares an hour

• Top concerns: cross-border licensing (27.5%), EV transition (15.5%) and rising maintenance cost (14.5%)

• 80% plus use apps. Ride-hailing apps are the #4 concern (10.9%)

• Apps mentioned as most popular on the survey include Ola, Gett and Taxiapp. I’m starting to wonder what the methodology is…

For the full report. 

In other news 📰

NEOM - what could go wrong?

The State of Ground and Sea Transportation by Noam Toister, CEO/co-founder of Travelier. In short - there is more room for digitalisation of ground transportation. The longer version is a video.

I love meeting new people and learning about innovation. Let’s get-to-know.

People 🧑‍🤝‍🧑

Adam Maher is the new Head of Sales @ UrbanThings. 

Alicja Nagórko is the new Global Head of Strategy & Operations – Retail & Grocery @ Bolt. 

Assaf henoch is the new Member of the Road Safety Committee @ Rishon Le-Zion Municipality, Israel. 

Ed Wingfield is the new Director, Strategy, Product & Operations (Grocery + Retail) @ Deliveroo. 

Georgiana Marin is the new Global Lead Recruiter @ Bolt. 

José Carlos Aguilar Bojórquez is the new Growth & Platform Lead @ DiDi. 

Magda Mazur is the new Co-Chair New Urban Mobility committee @ We drive new mobility. 

Matt Warfield is the new Deputy Director, Active Transportation and Station Access @ MBTA. 

Nadim Matuk is the new Managing Director @ Liil Ventures. 

Praveen Subramani is the new Director of Product Management @ Uber. 

Rob Larmour is the new Head of Operations.@ Flock Mobility. 

Scott Shepard is now a University Lecturer @ Istituto Europeo di Design, 

Yehuda Horn is the new Director, Data Integration @ Moovit. 

Yuval Kazmir is the new Product and Import Director @ Colmobil Corp.

Congrats and good luck!

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