Irish Micro Mobility Start-Up, ZEUS Scooters, announced today the close of its investment of €5m for expansion and development of its innovative solutions for markets globally.
Established in 2019 and launching in Germany in 2020, ZEUS has expanded into 6 countries across two continents and over 40 locations, making it Ireland’s largest micro mobility company.
The new investment comprises €2m through Irish Based BVP investments, €350k from Enterprise Ireland, €1.65m of angel investment and €1m in debt. Previously, ZEUS secured €2m in seed investment led by veteran investor and entrepreneur Colm Menton, who sold Europcar in 2017 for an estimated €26m.
ZEUS has gained a positive spotlight across Europe for introducing the world’s first Three-Wheeled Sharing Scooter and has expanded this to almost 5000 vehicles globally. The investment will support its growth plans as well as new innovations expected over the next 12 months. These include the launch of the new Z2 Scooter in Europe and the roll out of its Solar Powered Docking stations known as Lit Trees.
Speaking about the investment, founder and CEO Damian Young said “We are absolutely thrilled to have new partners on board as we continue to reach new markets and change the face of micro mobility globally. Our goal is to positively contribute to environmentally friendly last mile transport means in cities everywhere with our safe, stable and unique micro mobility vehicles. This investment will help to secure our focus on innovation and expansion as well as create employment in all of our locations”
As a continuing investment in Ireland, and in recognition of the support from LEO Carlow as a small start-up, Zeus has situated their European HQ in Kildavin, Co. Carlow. “We are an Irish company, and we are committed to Ireland where we employ over 20 people as well as over 80 people in our countries of operation. With this investment we intend to create more than 20 new jobs in Ireland and many more overseas” Young added.
Elliot Griffin, Managing Director and founder of BVP, said “BVP is committed to supporting Irish Businesses expanding into global markets with a particular focus on green technology and innovation. ZEUS has proven its strength and resilience in its growth to date and we are delighted to be part of exciting roadmap that ZEUS has planned for the future”
Enterprise Ireland has supported this investment and continues to work with ZEUS in accessing new markets. Donnchadh Cullinan, Head of ICT HPSU in Enterprise Ireland said “Enterprise Ireland is committed to supporting start-ups on their growth journey, as it means supporting local and national economies. As a High Potential Start Up (HPSU), ZEUS has demonstrated its unique proposition in markets across Europe, Scandinavia and Asia. Enterprise Ireland is excited to continue to support ZEUS on its growth journey, as it continues to find new markets and create employment.”
ZEUS has also announced the launch of its first e moped fleet pilot in Germany to complement its fleet in over 30 cities. Together with the roll out of solar powered stations and the introduction of e micro cars, ZEUS is poised to position itself as a multi modal leader in this market.