Carlow based Zeus Scooters raises equity funding amid ongoing expansion
Zeus Scooters has raised €650,000 equity funding after buying UK peer Zwings in August 2022. This follows news during 2022 that it would seek to expand its workforce by 20 over the coming months.
Founded in 2019 by Damian Young, Zeus launched in Germany in 2020 and has since expanded to 42 cities in six countries. The company says its fleet extends to over 5,000 unique 3-wheeled e-scooters which are deployed in Germany, Norway, Sweden, Croatia, Italy and Malaysia.
The company says that earlier in 2022 it raised c.€5m in funding.
Speaking to the regarding the expansion of the firm Damien Young, founder and CEO said:
“We would expect to double in size within the next 18 months.”
The continued expansion of Zeus has made it Ireland’s largest micro-mobility company.
The company is expected to launch a number of new innovations over the next 12 months, including the launch of the new Z2 Scooter in Europe and the rollout of its solar-powered docking stations known as Lit Trees.
Zeus Z2 scooters are characterised by their three wheels, stable stand and high weight.
The company has achieved most traction in Germany, where it has a presence in 40 cities, and last autumn rolled out its latest scooter models in Kaiserslautern.
The latest scooter model has pneumatic tyres, directional indicators to allow signalling without removing hands from handlebars, and wireless phone holder and charging.
In Germany, the basic fee is 1€ to unlock the scooter and each additional minute costs 28c. For frequent drivers, Zeus offers subscription packages, such as €5 for unlimited activations of the scooters for 30 days.
Young said:
“We are absolutely thrilled to have new partners on board as we continue to reach new markets and change the face of micro-mobility globally. Our goal is to positively contribute to environmentally-friendly last mile transport means in cities everywhere with our safe, stable and unique micro-mobility vehicles.”
Zeus is also looking into the viability of launching e-mopeds in Ireland which could arrive in the country before e-scooters are rolled out.
The company currently has around 5,000 vehicles and is set to further expand its fleet of e-vehicles.
“Our objective would be to more than double the number of e-scooters over the next 12 to 18 months. We will probably introduce about 2,000 e-mopeds and a few hundred e-microcars within the fleet,” said Young.
Zeus is set to begin testing e-microcars later this year, with the aim of rolling them out in various locations during 2023.
