Toronto-based micro-mobility firm Joyride has secured a significant US $5.2 million in a Series A funding round led by Yamaha Motors. The company is realigning its focus towards collaborating directly with vehicle manufacturers, aiding them in developing fleet rental or sales platforms for e-scooters, e-bikes, minicars, and golf carts. This funding round also includes contributions from Export Development Canada and existing investors like Urban Innovation Fund.
Joyride’s technology suite, which includes custom mobile apps, vehicle tracking, and keyless vehicle ID verification, is set to be utilized by Yamaha Motor USA for their golf carts. This strategic pivot aims at harnessing new revenue avenues in the evolving micro EV sector, despite varying consumer acceptance globally.
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