One Moto secures USD 40 mn to roll out delivery EVs in the UAE: 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. The financing round was led by sustainability funding platform Pyse, the company said.

Where the funds are going: The investment will allow One Moto to expand its offering of electric delivery vehicles to customers to some 50k vehicles by 2025, and further cement its network across the UAE, digital platform SME10x notes.

Plug and play: One Moto’s motorcycles will not need 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 also 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, which the company will announce in 4Q 2023.

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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