- Total equity investment reaches $34 million as Zeelo gears up to serve new US enterprise clients and launch new transportation technology features for bus operators
- Three new venture capital firms from Europe and North America complete the round which was led by FlatzHoffmann with additional participation from existing firms ETF Partners, InMotion Ventures and angel investors
- Co-founders Sam Ryan (CEO) and Barney Williams (CCO) relocate to Boston to scale team and accelerate US expansion
- Commitment to reach net-zero services by 2030, with nearly 10% of all UK Zeelo services already operating on battery electric vehicles
BOSTON, Aug. 15, 2023 /PRNewswire/ — Zeelo, the global transit-tech company powering bus operators, employers and schools to provide highly efficient, sustainable and affordable private bus and shuttle transport programs, has secured $14 million in its latest Series A extension round from three new venture capital firms, including FlatzHoffmann, the European growth equity investor; IREON Ventures, the venture capital arm of Motor Oil Hellas; and a prominent Boston-based family office with a principal that recently took their Nasdaq listing private for $6 billion.
In an oversubscribed investment round led by FlatzHoffmann, with additional participation from angels and venture capital funds, Zeelo commits to accelerate and scale the team and operations and launch new technology products to serve US enterprise clients and operators for employee shuttle transportation needs for commutes across the East and West coasts.
Zeelo, which has live operations on three continents, is on a mission to accelerate expansion in the US, opening its second headquarters in Boston, Massachusetts. Co-founders Sam Ryan and Barney Williams have relocated to invest in scaling the team to meet increased demand, while fellow co-founder and CTO Dani Ruiz continues to build the engineering team in Europe to accelerate new product development. Zeelo has already secured contracts with Fidelity as well as two leading multi-site corporate enterprise clients, including the world’s leading e-commerce marketplace and a global shipping and logistics business. This sets the stage for rapid revenue growth at low capital expenditure in the world’s leading developed market. With a proven Transport-as-a-Service (TaaS) platform, Zeelo is well-positioned to capture significant market share and drive sustainable growth within the B2B bus commuting sector in developed markets. The combined US and UK mass transportation market is worth $40 billion.
“Developed markets are underserved for daily mass transportation needs and we have seen increased demand for our transit-tech solution in the United States over the past 12 months,” says Sam Ryan, Co-Founder and CEO at Zeelo. “Due to this demand, we’ve had a growing number of requests from shuttle operators to leverage our technology to improve their client relationships and streamline operations. This new capital will accelerate Zeelo’s expansion across the US for an accelerated rollout of large scale, multi-site transportation contracts, with some of North America’s biggest household brands, as well as further investment in our software offering.”
Zeelo addresses the evolving needs of B2B organizations – such as shift worker employers, office worker employers, schools and universities – providing customized transportation services for daily commutes to suburban and peri-urban areas that lack sufficient mass transit coverage. In addition, Zeelo’s platform offers relevant insights to its clients to plan their headcount, production capabilities, and staff punctuality to save clients on average of 12 hours per week in administrative tasks, increase bus ridership by 50% and enable 43% in cost savings per year, on average, for employee shuttle transportation.
“Our newly set up fund seeks to support technology companies with proven business models and a lasting environmental impact,” says Christopher Hoffmann, Partner at FlatzHoffmann. “We help them navigate the transition from Series A to growth and beyond. Zeelo is a unique and proven mobility player headquartered in Europe with a strong expansion push to the US. It combines a strong transit-tech platform with a clear sustainability mission. We are convinced of Zeelo’s experienced leadership team and their ability to innovate and execute. They have come very far in building their business, and we look forward to supporting their growth strategy for developed markets.”
FlatzHoffmann, which was established this year by Alois Flatz and Christopher Hoffmann, operates in Munich and Zurich with a pan-European reach. The fund targets companies at the later-stage growth phase from Series A onwards, with established customer use-cases, recurring revenues and sound unit economics. Both partners bring substantial investment and operational experience to the table. Alois Flatz was an early partner at Sustainable Asset Management (SAM), a partner at cleantech investor Zouk Capital and a Senior Advisor at Al Gore’s Generation Investment Management fund. Christopher Hoffmann is an operator-investor who was a growth equity investor at Zouk Capital and has a 10-year operational track record as CFO of growth companies, including a successful cleantech IPO in 2016 with va-Q-tec.
Zeelo also passes on CO2 emissions savings to its clients and has committed to transitioning all services to net-zero emissions battery-electric buses by 2030, with nearly 10% of Zeelo’s UK clients having already made the switch to electric buses for their commuter services. Meanwhile in 2022, Zeelo offset over 2,600 tons of CO2 emissions and created over 26,000 employment opportunities, with 70% of Zeelo riders admitting that they rely on the service to commute to work, and without which they would not have been able to accept their job.
Zeelo has an experienced, execution-focused and entrepreneurial management team. The co-founders previously built, led and successfully exited their first transit-tech business to Addison Lee.
For press inquiries, please contact Zeelo:
Sonia Afzal, Head of Communications
[email protected] | +44 (0)7950 467 773
Kathleen Osborne, Kamel PR
[email protected] | +001 607 434 2065
Zeelo is a leading global transit-tech company powering bus operators, employers and schools to provide highly efficient, sustainable and affordable transportation programs. Zeelo provides software and managed services to its clients and partners to increase bus occupancy levels and reduce transportation costs, CO2 emissions and administrative time. Its secure and innovative transportation management software system comprises a SaaS platform, proprietary routing algorithm, mobile apps for riders and drivers, and 24/7 customer support (4.9 TrustPilot rating) ensuring poorly connected commuters have a regular, subsidized and sustainable bus service, wherever they are based. Headquartered in London with an R&D team in Spain and live operations in the UK, US and South Africa, Zeelo was founded in 2016 by Sam Ryan, Barney Williams and Dani Ruiz. The co-founders previously sold their pioneering ride-sharing app JumpIn to Addison Lee in 2014. Zeelo, your next stop. For more information, please visit www.zeelo.co
FlatzHoffmann is a European growth equity investor that invests in environmental tech companies, supporting their transition from venture to growth. The fund backs experienced management teams that harness technology to drive progress and impact within our planetary boundaries. FlatzHoffmann invests across industrial technology, transportation & logistics, energy, sustainable materials and food & agriculture. The fund takes an active approach to partnering with portfolio companies, supporting commercial and organisational growth and leveraging its entrepreneurial ecosystem of fund investors. For more information, please visit www.flatzhoffmann.com
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading
SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
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