During the pandemic, in which global funding into tech startups has declined by 20%, the $47 million will allow Tembici to double down on the rollout of more electric bikes, and increase access to bikes in the major cities where the service is operative.
He says 20 million rides were taken on Tembici bikes in the past year, with 2 million rides happening per month. .
Tembici says it’s learned tons from observing China’s pioneering micromobility efforts – but there are some key differences in the Latin America market
Sobel says we can expect to see more government partnerships and eventually consolidation from micromobility companies in Latin America in the future.Â