One Moto secures funds for delivery EV vehicles expansion: British sustainable mobility startup One Moto Technologies has secured USD 40 mn in lease financing to accelerate the leasing of electric delivery vehicles throughout the UAE, according to a statement released last week. The financing round was led by sustainability funding platform Pyse, the company said.

Where the funds are going: The investment would allow One Moto to expand its offering of electric delivery vehicles to customers and further cement its network across the UAE, digital platform SME10x notes.

Plug and play: One Moto’s motorcycles will not need a charging infrastructure beyond the standard 3-pin socket, CEO Adam Ridgway told SME10x, and the bikes deployed in the UAE come with swappable battery banks. One Moto’s vans use standard type-2 chargers, which can be installed within any company facilities if needed. The company is working with various UAE EV charging companies to supplement the demand, Ridway added, and noted that One Moto’s R&D team is developing groundbreaking charging for all EVs due by 4Q 2023.

Looking ahead: One Moto is targeting having 50k vehicles in the UAE by 2025 as part of the UAE’s plan to have a “stricter emission target with [a] 40% cut by 2023” as stated by UAE’s Climate Change and Environment Minister Mariam Al Mheiri, according to SME10x.

About One Moto: The London-headquartered sustainable mobility startup offers a wide fleet of delivery vehicles including motorcycles, e-bikes, scooters, delivery and grocery vans, according to its website. It is currently present in the UK, UAE, Sri Lanka, Nepal, Ethiopia, Bahrain, Jordan and Chile.

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