Irish electric scooter company, ZEUS Scooters, has today announced the completion of a €2m funding package into the company, further bolstering its expansion plans across Europe.
The Irish owned scooter company was founded by ex-banker, Damian Young, and launched in the city of Heidelberg in Germany in June 2020. Since then, ZEUS Scooters has expanded to 17 cities in Germany, making it the fastest expanding Micro Mobility company in Germany.
The new investment into the company has been led by veteran entrepreneur and mobility expert, Colm Menton, who sold his rental car business, Europcar Ireland, to its French parent in a deal worth an estimated €26M. Mr Menton is also involved in a number of other ventures in this sector, including RentalMatics, which provides telematics software to the industry.
Commenting on the new investment into ZEUS Scooters, Mr Menton said “We have been impressed by what this business has achieved in such a short time in a sector that is expected to grow to over €500bn in a few short years. This investment will allow the business to continue with its ambitious plans and enter new markets including Ireland when legislation is passed. ZEUS Scooters is a positive addition to our portfolio in this market”.
ZEUS Scooters now employs 10 people in Ireland and a further 15 in Germany. It has plans to continue its expansion in Europe and grow its head office base in Ireland, creating additional employment for the Irish Economy.
Speaking about the new investment and plans for 2021, Young says “We are delighted to welcome Colm Menton onto the Board of ZEUS Scooters and we are looking forward to having his expertise support our business in 2021. We have become the fastest growing micro mobility in Germany and we have exciting plans for 2021, including launching in our home market Ireland.”
ZEUS Scooters prides itself as being uniquely different. It is the first company globally to launch a three wheeled sharing scooter, which has proven to be safer, more stable and smoother for riders. The company has invested significantly in its scooter and its technology over the past 12 months, notably being voted the “best experience” in Germany against some of the world’s largest players.
“We want to bring micro mobility to cities large and small, contribute to decongestion of these cities and reducing the carbon footprint of our cities globally” Young concluded