Pony, the start-up specialising in urban mobility solutions, has taken a major step forward… The company has just completed a second round of Series B funding, raising €23 million. This substantial funding will enable the company to roll out its shared bike and scooter services on a massive scale. This young start-up aims to transform urban travel by improving the accessibility and sustainability of urban transport options. Find out more about Pony’s main news and ambitions following this round of financing…
A strategic fundraising
Founded in 2017, Pony had already raised €6 million in 2019 to launch its services in around ten French cities. This new €23 million funding round, led by high-profile investors such as La Poste and the Ademe, will enable the startup to change scale. This deal marks a decisive turning point for Pony. It provides the company with the resources it needs to strengthen its market presence and develop its services. With this injection of capital, the company aims to consolidate its business model and expand its geographical footprint.
Unlike our competitors, who focus on international megacities, Pony has chosen to concentrate on major French cities, developing a bespoke offering tailored to their needs.
Paul-Adrien Cormerais, co-founder and chairman of Pony
Towards European production
The new funding is also aimed at strengthening the company’s industrial strategy and research and development capabilities. The company, renowned for its electrically-assisted bicycle, is focusing on optimising its production. Developed in-house at offices in Angers, Bordeaux and Paris, the Double Pony is the first two-seater electrically assisted bicycle designed for sharing. Currently manufactured in Taiwan, Pony plans to bring production back to Europe.
As part of its drive to re-industrialise, Pony has started buying batteries from Bordeaux-based manufacturer Gouach. The aim is to produce 100% of its bikes in Europe by June 2025. The aim of this transition is to create an industrial ecosystem around its services. But also to speed up innovation cycles and offer new models in the near future.
By manufacturing its bikes in Europe, the company will be able to set itself apart from the competition even further, while reducing its carbon footprint. It’s an approach we’re keen to support with a stake in the company!
Marie-Capucine d’Epenoux, Chairman of Colam Impact
The ambition to triple its fleet by 2027
Pony will be stepping up its efforts to expand its presence in France with this latest round of financing. Backed by entirely French shareholders, the company aims to deploy more than 30,000 self-service bikes and scooters in around forty French and Belgian towns and cities over the next two years. From Nice to Bourges by way of Perpignan, the start-up wants to establish itself in ‘all French towns with more than 50,000 inhabitants’.
By targeting areas where population density makes it difficult to provide mass public transport, Pony is having a real impact on demotorisation by developing cycling. France is lagging behind its European neighbours (3% modal share for cycling compared with an EU average of 7%). We are therefore counting on Pony to significantly increase this figure.
Karine Mérère, Managing Director of ADEME Investissement
Pony strengthens its partnership with public transport
Over the last few months, Pony has broadened the scope of its activities by working with the main players in the public transport sector. The French company has made a name for itself by becoming the first station-free bike-sharing company to integrate public service delegations. As is the case in La Roche-sur-Yon, where it is a partner of RATP Dev.
With 70% of its users subscribing to public transport and more than half combining Pony with the bus or tram, the start-up plans to continue its partnerships. The aim is to facilitate integration between public transport and shared mobility solutions, such as bicycles and scooters.
Thanks to ADEME Investissement, we are delighted to be taking part in this exciting French industrial venture. With its growing range of shared bikes and scooters, this nugget is helping to make it easier for our fellow citizens to get around on the move in many towns and cities.
Sylvain Waserman, prEsident of ADEME
Pony x La Poste for logistics
La Poste Ventures is also taking part in this round of financing. Its ambition is to support Pony in the logistics of fleet management. An initial pilot project has been launched in Tours. There, the group’s agents will be recharging and moving the brand’s electrically-assisted bicycles.
La Poste group is one of the main players in mobility in France, with major projects such as Véligo in the Île-de-France region. Our acquisition of a stake in Pony is part of the same dynamic, putting the Group’s logistics expertise at the service of shared bikes and scooters.
Zola, André, Jr. Bahoumina, Strategy Director, La Poste.
This round of financing marks an important step for Pony, strengthening its position in the urban mobility market. The company is preparing to face increasing competition while continuing to innovate and improve its services. The outlook for Pony is ambitious, with plans to extend its operations to other cities and continue to develop innovative mobility solutions.
