Brazilian start-up Yellow has raised $9m in seed funding for its dockless bicycle hire service, aimed at reducing emissions and improving traffic flow. Founders Ariel Lambrecht and Renato Freitas, who recently sold their ride-sharing service 99 to Chinese giant Didi Chuxing for $1bn, said the funding will be used to deploy an initial 20,000 bikes, eventually rising to a total of 100,000. “As local residents, we’re acutely aware of the pain points caused by Brazil’s inefficient public transit, and we built Yellow specifically to address them,” Musa said in a press release. The company is also working on developing a “smart bike” that can communicate with other bikes by using sensors such as GPS, accelerometers or Bluetooth.
Brazilian start-up Yellow has raised $9m in seed funding for its dockless bicycle hire service, aimed at reducing emissions and improving traffic flow. Founders Ariel Lambrecht and Renato Freitas, who recently sold their ride-sharing service 99 to Chinese giant Didi Chuxing for $1bn, said the funding will be used to deploy an initial 20,000 bikes, eventually rising to a total of 100,000. The company is also working on developing a “smart bike” that can communicate with other bikes by using sensors such as GPS, accelerometers or Bluetooth.