Brazilian start - up Yellow has raised $ 9 m in seed funding for its dockless bicycle sharing service , aimed at reducing congestion and improving traffic flow . Founders Marco Lambrecht and Renato Santos , who recently sold their ride - sharing service 99 to Chinese giant Didi Group for $ 1bn , said the funding will be used to deploy an initial 20,000 bikes , eventually rising to a total of 100,000 . Yellow’s third co-founder is Eduardo Musa, former CEO of bike manufacturer Caloi. Yellow also plans to add e - scooters and e - bikes to its fleet in the future .
Brazilian start - up Yellow has raised $ 9 m in seed funding for its dockless bicycle sharing service , aimed at reducing congestion and improving traffic flow . Founders Marco Lambrecht and Renato Santos , who recently sold their ride - sharing service 99 to Chinese giant Didi Group for $ 1bn , said the funding will be used to deploy an initial 20,000 bikes , eventually rising to a total of 100,000 . Yellow also plans to add e - scooters and e - bikes to its fleet in the future .