UAE-Based Electric Vehicles Startup ONE MOTO Raises Six-Figure Bridge Funding Round

UAE-based electric vehicles specialist, ONE MOTO, has announced that it has raised a six-figure bridge funding round led by Managing Partner of Dismatrix, Miray Zaki, and partially made up of crowdfunding from Eureeca. Founded in 2016 by British entrepreneur, Adam Ridgeway, ONE MOTO provides vehicles for the last-mile and delivery industry, while addressing the issues of environment, safety and profitability.

It does so through a digitally-interconnected fleet of private and commercial vehicles which it claims can save up to 16,560 tonnes of CO2 annually, while allowing operators to double their fleet for half the cost of petrol and diesel-powered vehicles

“ONE MOTO are more than a provider of sustainable mobility, we are environmentally focused and aligned with the 17 Sustainable Development Goals of the UN,” said Ridgeway. “This is an audacious task with a long road ahead, but our vision and team’s dedication will get us there. Customers who purchase the vehicles benefit from the carbon offset, Green PR and government grants, whereas those who lease the vehicles benefit from the profitability and sustainable."

The startup also offers a care package that means vehicles are replaced for free after five years and recycled. While it’s unclear how this bridge funding round will be utilised by ONE MOTO, it is understood that Rodgeway is working with a number of institutions in the UAE to increase incentives for the adoption of ONE MOTO's electric vehicles.

Lear more about ONE MOTO here.