ONOMOTION, a tech business with headquarters in Berlin, has completed its €6 million Series A funding. Additionally, the business and GLS Bank are beginning to distribute a bond with a total volume of 15 million euros.
Proeza Ventures, zu na mi GmbH, the European Innovation Council (EIC), and preexisting investors are some of the Series A investors. After beginning its own production at its headquarters in Berlin, ONOMOTION now plans to increase both the production and marketing of the ONO e-cargo bike and enter new markets. Sales are anticipated to rise dramatically as a result.
Sustainable logistics and mobility solutions are being pushed by aggressive climate targets and congested highways. Modular cargo bikes can conserve space and save CO2 emissions on the last mile, which is a crucial component of this shift. ONOMOTION wants to provide consumers with quick and binding delivery times, hence it is increasing production. The business already collaborates with prestigious logistics providers including UPS, DPD, and Hermes.
ONOMOTION’s CFO, Kai Brentle, led the financing round: “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,” says Brentle. He sees ONOMOTION’s great potential in scaling, i.e. the possibility of increasing sales through in-house production and opening up new markets. “This will bring us a big step closer to our vision of tomorrow’s mobility,” says Brentle.
Decentralized production techniques, which can be tried at the Berlin location with the new funding, are a crucial component of scaling up. The company’s overarching objective of providing sustainable logistics solutions for metropolitan areas and making a local effect is consistent with the local sourcing that results from this. This idea will eventually be used in other cities.
Dirk Kannacher, board member at GLS Bank, says: “Crowded, noisy and emission-rich big cities are a burden on people and the climate – and smart solutions that are cleaner, safer and quieter have long been available. E-cargo bikes are an important component for the transport turnaround.”