ezBike Raises $1 Million in Pakistan’s First Pre-Seed Round by an Electric Mobility Startup
ezBike, a vertically-integrated electric mobility startup, announced today that it has raised $1 million in pre-seed capital to accelerate the transition to Electric Vehicles (EVs) in Pakistan.
The funds will be used to build a comprehensive ecosystem for electric two-wheelers, including an electric scooter assembly facility, low-cost lithium-ion battery production, and a network of battery swapping stations. The company will begin offering electric scooters for sale this summer and plans to initially pilot its solution with one of Pakistan’s leading delivery companies.
Founded as Pakistan’s first electric scooter sharing service by Mohammad Hadi, a former investment banker, and Ali Moeen, a software executive, ezBike has onboarded over 100,000 customers and become a household brand in its home city of Islamabad. The success of its electric scooter sharing model demonstrated the broader need for affordable and green transportation in Pakistan and gave ezBike the experience necessary to address it.