Modmo founder and CEO Jack O’Sullivan welcomed the closing of the seed investment round: “I spent the past 3-years in Vietnam focusing on product development and returned to Ireland in August to raise the capital we would need to ramp up production build a team in Dublin to focus on sales, marketing and support. We now have 10 people in the Dublin office and expect to reach 30 this year.”
Sean Mulryan said: “The future cities will have transport sectors powered predominately by electrification. Electric bikes are already playing a role and are fast becoming one of the most popular modes of urban transport throughout Europe. A solution that has been proven to directly improve human health both mentally and physically while also helping to combat local combustion pollution. I fully support MODMO’s vision, and I am excited to contribute to making cities more clean, green, and enjoyable to live in.”
Modmo is currently delivering to 8 European countries and plans to expand to North America with the opening of their first dealership in Vancouver BC, Canada in March. With Germany making up 85% of global sales, they have been developing a vast servicing network which can now offer servicing anywhere in the country within 48-hours.
Jack O’Sullivan concluded by saying: “The latest investment from Sean will greatly accelerate our goal of getting an ebike in every household in Europe.”
Modmo’s mission is to accelerate the adoption of cycling as a primary mode of urban transportation. They strive to replace fossil fuels with green energy, preserving the environment, contributing to clean air initiatives, and aiding in the growth of a new, and healthier global lifestyle. They hope that by 2025, each household will adopt e-mobility as their preferred means of transit, and their aim, as a brand, is to become an industry leader in design, technology, and top-of-the-line user experience.
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SOURCE Modmo Technologies
