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JOYRIDE SECURES $4.6 MILLION CAD TO HELP LAUNCH BIKE AND SCOOTER-SHARING BUSINESSES

ORIGINAL ARTICLE, Josh Scott, betakit.com, June 23, 2021

Toronto-based micro-mobility software startup Joyride has raised about $4.6 million CAD ($3.7 million USD) in funding to build on its recent growth and capitalize on the rise in demand for mobility solutions like bikes and scooters.

The all-equity round, which Joyride said was oversubscribed, was led by Mexico-based Proeza Ventures and the San Francisco-based Urban Innovation Fund. It also saw participation from Mexico’s Liil Ventures, Eva Lau and Wattpad co-founder Allen Lau through Two Small Fish Ventures, and former Shopify CMO and CPO Craig Miller through his personal fund, Something Good Ventures.

During the pandemic, Joyride more than doubled the number of operators and countries it serves, the size of its team, and its revenue.

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