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Briefing

Toronto micro-mobility firm Joyride raises US$5.2M led by Yamaha Motors

Joyride said it wants to pivot more of its focus toward working directly with the companies that actually make vehicles, and help them set up their own fleet rental or sales platforms for e-scooters, e-bikes, minicars and golf carts. The Series A funding round also includes Export Development Canada and existing investors Urban Innovation Fund, Proeza Ventures and Two Small Fish Ventures. (The Logic)

Briefing

Toronto micro-mobility firm Joyride raises US$5.2M led by Yamaha Motors

By Anita Balakrishnan
Mar 12, 2024
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Joyride said it wants to pivot more of its focus toward working directly with the companies that actually make vehicles, and help them set up their own fleet rental or sales platforms for e-scooters, e-bikes, minicars and golf carts. The Series A funding round also includes Export Development Canada and existing investors Urban Innovation Fund, Proeza Ventures and Two Small Fish Ventures. (The Logic)

Talking point: Yamaha Motor USA CEO Mike Chrzanowski said in a release that the company will use Joyride’s technology for its golf carts. Joyride said its technology, which includes custom mobile apps, vehicle tracking and ID verification for keyless vehicles, could help vehicle manufacturers create new revenue streams. Micro EVs have had mixed consumer adoption, with cities like Calgary embracing shared scooters and others, like Paris, scorning them. But manufacturers like Sarit and Magna are increasingly betting that small EVs will gain popularity for use in business or in other regions like Asia.

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