eMoBi Raise ¥300M in Funding to Accelerate Growth of Resort EV Mobility Business

^{ℹ️ News provided by: eMoBi}
eMoBi, a small EV startup that moves people and hearts

JAPAN – 22 August 2024 – eMoBi, Inc., a company that operates a resort mobility business using the next-generation compact EV “PACO” mainly in Shonan and Okinawa areas in JAPAN, announced today that it has secured a total of ¥300 million in funding through a combination of equity and lease financing.

The funding round was joined by a prominent group of investors from both Japan and overseas, including independent VC IT Farm Co., Ltd., JR East Start-up Inc., Taiwanese VC Darwin Ventures, and Jack Cheng, co-founder of Shanghai-based EV startup NIO and Chairman of M-mobility.

The funds raised will be primarily used for the following initiatives:
● Domestic rollout of battery exchange platform: The battery-swappable platform will be provided for the shared vehicle deployed in the Shonan area and Okinawa Prefecture. This will compress operating costs and enable more users to use PACOs for longer periods of time, without worrying about range.
● Enhancement of user experience, including the sharing app: Development of a more intuitive and easy-to-use sharing app, establishment of a comprehensive customer support system, and other measures will be taken to further improve the user experience.
● Acceleration of global expansion: While capturing the growing inbound demand, eMoBi will accelerate its planned business expansion in APAC resort area including Indonesia. The company will also focus on vehicle development with Taiwanese tech companies, aiming to grow as a global resort mobility company.

[Mr Kurosaki, Representative Director, IT FARM Ltd.]
Unlike conventional urban micromobility, the eMoBi product and business focuses on group use in areas with few alternative transport options. The business model, which is based on collaboration with accommodation facilities, railway operators and large-scale facilities, is expected to expand globally, not only in Japan but also in the Asia-Pacific region. We will actively support eMoBi’s business development in Japan and abroad, including partial overseas financing in this round.

[Mr Yutaka Shibata, Representative Director of JR East Start-up Co.]
One of the issues in the hotel business along the Ome Line was the “foot traffic” from the arrival station. The solution was provided by eMoBi. eMoBi developed a co-creation plan through the JR East Start-up Programme, and when we started the project with half a doubt, the usage exceeded our expectations and the feedback from customers was positive. I actually rode one myself and felt that the experience of riding in the nature of Okutama was more than just a means of transport, but a new way to enjoy travelling. The fact that it is electric and therefore environmentally friendly also makes it suitable for the future… Since then, we have worked together to create a system to support local university students commuting to school, and also to provide a new route for restaurants along the railway line. We would still like to work with eMoBi in numerous ways. We will do our utmost to support eMoBi and the regional transport of the future! Make your travel more flexible and enjoyable. Let’s create new journeys.

[盈管理顧問股份有限公司 (Darwin Venture Management) Managing Partner, Kay Lin 、 Director, Jason Lu]
Darwin, our decision to invest in eMoBi was driven by our admiration for the company’s innovative business model and the leadership of CEO Ishikawa and his talented team. We believe that our involvement can significantly enhance eMoBi’s value.Our track record includes substantial investments in startups within Taiwan’s tourism and hospitality sectors, such as KKday, AsiaYo, and Funnow. These investments have successfully elevated their corporate value, and we are confident that we can replicate this success with eMoBi’s electric vehicle resort mobility business.Moreover, Darwin’s extensive network of manufacturing partners in Taiwan is well-positioned to assist eMoBi in developing its targeted supply chain. We are excited to join forces with leading domestic and international investors to support eMoBi’s growth and development.

[Mr. Jack Cheng氏( co-founder of NIO・Chairman of M-mobility)]
Emobi shares the same synergy with myself and M Mobility, perfectly aligning in our vision for a sustainable future. By investing in Emobi, I reiterate my commitment to ESG principles,
addressing crucial social issues through innovative electric vehicle solutions. Japan marks our first outreach, where cutting-edge technology and lifestyle co-exist in harmony. The potential for customizing flexible city transportation and innovative commuting services is vast, our mission is to enhance user experience while significantly reducing carbon dioxide emissions.This initiative serves as a role model that can be replicated globally. Together, M Mobility and Emobi drive the future of transportation, merging convenience with environmental responsibility for a better tomorrow.

[Comments from Tatsuki Ishikawa, co-founder CEO of eMoBi]
“This funding will enable eMoBi to take a major step forward in the further growth of our resort mobility business. We are very honored to have received support from such outstanding investors from both Japan and overseas, including independent VC IT Farm Co., Ltd., JR East Start-up Inc., Darwin Ventures, and Mr. Jack Cheng. We will continue to actively develop user-oriented services and expand our business, while innovating the mobility experience in resorts and contributing to regional revitalization.”
About eMoBi
eMoBi was established in 2018 to develop a fully off-grid small EV platform worldwide. It is currently developing a resort mobility business in Shonan and Okinawa through a sharing service, using its independently developed next-generation small EV, PACO, to provide new sightseeing experiences such as driving while enjoying the seaside scenery in a PACO with low environmental impact. In the future, the company intends to actively expand to resort areas in Japan and abroad, innovating the last-mile mobility experience in various locations and contributing to regional revitalisation.

We will recruit initial members who sympathize with eMoBi’s business.
Please check from this link
https://open.talentio.com/r/1/c/emobi/homes/4394

【Contact us!】 eMoBi.,Co ltd
https://www.emobi.co.jp/company/en
TEL: +81 050-5536-5655
pr@emobi.co.jp

About eMoBi:
eMoBi, a small EV startup that moves people and hearts

eMoBi Co., Ltd. was founded in 2020 by members enrolled at the University of Tokyo with the vision of creating a sustainable mobility system.
We are developing multiple businesses focusing on mobility and transportation issues in rural and urban areas.
We will also launch new businesses that utilize EV micromobility and battery platforms.
We aim to realize a “society where everyone can move freely.”

For more information, please contact:

Ryota Ichie r.ichie@emobi.co.jp

This press release was published as it was received from our partner, without any editing from the Tech in Asia team.

You can publish your own press release on Tech in Asia. Simply fill in this form and our team will get back to you by the next business day.