Berlin-based e-mobility company ONOMOTION has secured €6 million in Series A funding, in addition to launching a €15 million bond distribution with GLS Bank.
Proeza Ventures and the European Innovation Council (EIC) are two of the organisations that have invested in this round of funding.
The company manufactures e-cargo bikes for last-mile deliveries. ONOMOTION focuses on creating ‘sustainable, efficient, and cost-effective urban logistics solutions’. Its flagship product is the ONO, which is described as ‘a hybrid between an electric bike and a car’.
ONOMOTION claims that this ‘allows faster and more efficient movement, saves space, protects the environment and saves resources’.
Kai Brentle, ONOMOTION’s Chief Financial Officer said: “Inner-city logistics is a business that is primarily about efficiency and profitability. ONOMOTION’s e-cargo bikes can cover all needs in urban logistics due to their modular system and sustainable operation.”