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Tembici raises $47M Series B to expand its fleet of electric bikes
Jun 03, 2020 40 secs
Tembici, which says it owns 80% of the market share in Latin America’s micromobility space, now has $47 million more in capital to double down on its docked ebike offering. .

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. 

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