RiDE closes a 400 thousand euro round led by Iren

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New round for Smart Mobility, the startup that developed RiDE, the hybrid shared mobility service powered by the Ridebank portable battery. The new 400 thousand euro loan was led by Iren together with LVenture Group, T-Group and some business angels of Italian Angels for Growth (IAG).

The operation took place through a capital increase, which he sees the entry into Smart Mobility as Iren's strategic partner: a very important corporate venture capital operation for the Italian innovation ecosystem, which sees one of the country's main and dynamic multiutility investing in an innovative reality ready to transform urban mobility from a sustainability perspective.

RiDE, a startup launched by LVenture Group through its LUISS EnLabs accelerator, has developed a sharing mobility solution for all cities, from large centers to small municipalities, starting with bike sharing. The startup has developed a very simple model: in every municipality where the service is activated, the best combination is identified for the positioning of electric-assisted bikes and "virtual stations", areas of the municipal territory that can be used as parking lots, displayed with the app RiDE | Hybrid Mobility.

«The entry into RiDE is the third corporate venture capital operation after the launch of IrenUp, the program born a year ago to support innovative startups. With RiDE we are pleased to be able to contribute concretely to the development of electric mobility in Italy, adding a new service to IrenGo's wide range of products, ”said Renato Boero and Massimiliano Bianco, president and CEO of the IREN group.

Luigi Capello, CEO of LVenture Group, then underlined: «We believed from the beginning in the RiDE team, which developed a sustainable sharing-mobility solution capable of facilitating urban mobility in the Municipalities, from the small town to the larger cities . The quality of the vehicles, the portable electric battery and the business model that involves all the players involved, the Municipality, partners and end users, represent an important added value for their success on the market ".