Bolt Mobility Corporation (Bolt) announced that it will expand its footprint to include 48 additional markets, including 18 university campuses, throughout the United States. The expansion is a result of Bolt’s acquisition of assets from Last Mile Holdings Ltd. (Last Mile).
In 2020, Bolt, expanded its services to 300,000 users, and brought on Ed Welburn, the former vice president of General Motors Global Design, as an Advisor. By working with independent local operators in each of its markets, Bolt provided those partners with the opportunity to start and manage their own micromobility business. With the acquisition, which was funded in part by Fuel Venture Capital, Bolt can now offer micromobility solutions to more than 50 U.S. markets.
“We founded Bolt because we believe in micromobility as a movement that can transform the way people live and move within their communities,” said Bolt Co-founder Usain Bolt. “This expansion proves that anything is possible for micromobility when you support it with talented people, innovative technology, and the incredible work ethic of the Bolt team.”
For now, riders in Bolt’s new markets will continue to be able to access and use the e-scooters, e-bikes and pedal bikes through the Gotcha Mobility, LLC (Gotcha) and OjO Electric (OjO) iOS and Android mobile apps. In the coming months, Bolt will be collaborating with city and university partners to transition these markets to Bolt’s technology and Mobility-as-a-Service model.
“This was a perfect fit,” said Bolt CEO Ignacio Tzoumas. “This acquisition allows us to dramatically expand our footprint across the U.S. We are excited to launch the Bolt platform in these new locations and to empower local partners to expand the interconnectivity of cities and universities with multi-modal micromobility solutions.”
A number of former Gotcha and OjO employees will be joining the Bolt team, including Gotcha’s former Chief Operating Officer Matt Tolan. He will be Bolt’s new chief commercial officer, focusing on building and strengthening Bolt’s relationships with cities and universities.
“I am thrilled to be joining Bolt, as we share a commitment to strengthening communities through the power of micromobility,” said Tolan. “We can’t wait to get to work enhancing our current partnerships and expanding our micromobility offerings throughout the U.S. and around the world.”
