WeMo Corp, an e-scooter rental company based in Taiwan, has completed its US$15 million Series A+ round of financing led by AppWorks.
Taiwan National Development Fund also joined the round.
WeMo will use the money to expand its service to Southeast Asia, mainly in Indonesia and Thailand. It is building partnerships with governments, investors, businesses, and transportation providers throughout the region to offer green transportation and fleet management services.
WeMo develops technology and services to decrease dependency on privately-owned vehicles, thus reducing pollution. It provides real-time smart e-scooter rental service.
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The firm claims it has amassed over a million users since its launch seven years ago. In 2022, WeMo launched WeMo RenTour (app-based rentals for electric cars, scooters, and bicycles) and WeMo PASS (offers free and discounted rides of e-scooters and other benefits on a subscription basis).
The company also offers a comprehensive mobility-as-a-service platform focusing on fleet and operations management under one integrated system.
“Sustainable green energy development is the predominant global trend for energy and transportation and is the core spirit of WeMo from inception. Building off the continuous and steady growth of WeMo, we will leverage our proven expertise in electric and shared vehicles to offer sustainable solutions for smart transportation throughout the Greater Southeast Asia region,” said Jeffrey Wu, Founder and Vice Chairman of WeMo.
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