Berlin-based e-mobility company Onomotion has announced that it has secured €6m (£5.1m) in a Series A funding round and that it has also launched a €15m (£12.8m) bond distribution with German bank GLS Bank.
A distribution bond is an investment in an asset, which provides that asset an income while also offering the potential for it to grow.
Some of the Series A investors include Proeza Ventures and Zu Na Mi GmbH, as well as the European Innovation Council.
Onomotion develops vehicles for last-mile deliveries, with the company claiming it focuses on creating sustainable, efficient, and cost-effective urban logistics solutions.
In addition to this, the e-cargo bike manufacturer completed a crowd investment campaign in May, which secured €3m (£2.5m).
After starting its own production at its Berlin headquarters, the bike manufacturer now wants to scale its production and distribution capacity for its flagship Ono e-cargo bike and expand into new markets.
Kai Brentle, CFO at Onomotion, said: “Inner-city logistics is a business that is primarily about efficiency and profitability.
“Onomotion ’s e-cargo bikes can cover all needs in urban logistics due to their modular system and sustainable operation.”
Onomotion claims that this will allow organisation to achieve faster and more efficient movement, save space, protect the environment and reduce both use and waste of resources.
