Electric scooters have been taking over the roads in the US, Europe, China, Mexico, and now, Brazil. The founders of 99, Brazil’s most successful rideshare app, have a new business: Yellow, an e-scooter company for the Brazilian market.
The bike and scooter sharing startup recently raised US$63M from several investors, including GGV Capital, Monashees, Grishin Robotics, and Base10 Partners. Yellow’s founders claim that they will use this investment to expand across Latin America, with Mexico as their first target. Mexico’s own e-scooter startup, Grin, recently became one of six Latin American companies to be accepted into Y Combinator this year.
Yellow plays to deploy around 20,000 dockless bikes and 1000 scooters through São Paulo by the end of this year. Currently, Yellow imports its bikes and scooters from China, but they are scouting to build their own factory in Brazil this year.
Previous LatAm List coverage: Monashees+ and Grishin Robotics invest US$9M in Brazilian bikeshare Yellow