Cycle acquires Ebike4Delivery to scale last-mile delivery in the UK
Summary
German e-bike subscription service Cycle has acquired Ebike4Delivery to expand its last-mile delivery operations and launch in the UK. The acquisition will see these leasing contracts, as well Ebike4Delivery’s team and bicycles, transferred to Cycle under its own operations in 85 cities across Germany, the Netherlands, Italy, Poland and Austria. “We will be leveraging the Gen3 Bike from Ebike4Delivery to serve restaurants and franchise companies who highly value its robustness,” Cycle Co-Founder and CEO Luis Orsini-Rosenberg told Zag Daily. Cycle will benefit from Ebike4Delivery’s manufacturing expertise, while Ebike4Delivery will leverage the advanced Fleet Management Software developed by Cycle.” The acquisition comes one year after Cycle raised €10.3 million in a Series A funding round led by Scania Growth Capital, and the company has raised over €20 million euros in total. Both Cycle and Ebike4Delivery will continue to operate independently for some months following the acquisition for a smooth transition, and the Ebike4Delivery brand will not change.