Denso, the world’s second-largest mobility supplier, has taken a stake in California- and Switzerland-based Bond Mobility Inc. to help the world’s only speed eBike sharing company develop an urban transportation strategy. The close of Bond's $20 million Series A funding round was led by Denso’s New Mobility Group out of its global headquarters in Japan, and Ininvest.
Denso, which has its North American headquarters in Southfield, will use Bond’s technologies to accelerate the development of its Mobility as a Service (MaaS) model.
“While Denso is certainly concerned about the projected future decline of new car sales in the United States, we are also very excited about the growth possibilities offered by the new types of mobility that are being pioneered by startup companies around the world,” Denso Director of Corporate Ventures Tony Cannestra said in a statement. “While micromobility is a fairly new concept for the transportation industry, its potential value to urban environments is undeniable, and it is an area we are excited to support through an investment in Bond Mobility.”
Bond Mobility focuses on delivering high-performance micromobility services. The company develops eBikes that have top speeds of 30 miles per hour with average trips of four miles versus conventional micromobility services, which typically cover distances of only 1.5 miles. This makes Bond “a true car replacement and the fastest form of transport for urban journeys under six miles,” the company says.
“At Bond, we have big ideas about the possibilities of small vehicles, and we are thrilled a top-tier auto supplier recognizes that as well and has made such a major investment in our company," Bond co-founder and CEO Raoul Stockle said in a statement.
Bond Mobility was founded in 2017 by Stockle, Kirt McMaster, Corinne Vogel, Nick Muller and Horace Dediu, who many consider the coiner of the term “micromobility.”
Denso is a $48.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today.