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[Funding alert] Bicycle-sharing startup MYBYK raises $1M from Avon Cycles, others 3 CLAPS
Sanjay Baweja, ex-CFO, Flipkart.
This is the maiden round of funding for the
Ahmedabad-headquartered startup. Mybyk said it will use the funding to scale up the deployment of technology by introducing electric pedal-assist bicycles, expanding the leadership team and bolstering marketing efforts, as it looks at expanding to new geographies in India. The startup is targetting to increase its fleet to two million bikes by 2025.
“We are grateful to Avon Bicycles and our esteemed investors for reposing faith in us. This development is a testament to our resolve to redefining the public mobility landscape through accessibility, affordability, and reliability. We remain steadfastly committed to the goal of mitigating carbon footprints through sustainable transportation, said Arjit Soni, Founder and CEO, MYBYK.
Almatech, e5 Lab to build hydrogen-powered ship May 25, 2021, by Sanja Pekic
Swiss space and naval company Almatech has teamed up with e5 Lab, a Japanese firm funded by Mitsui O.S.K. Lines, Mitsubishi Corporation and others, to develop a passenger vessel powered by the hydrogen fuel cell system.
Courtesy of Almatech
The ocean shipping industry is one of the sectors aiming to reduce GHG emissions on a global scale, with Japan as one of the countries that face specific needs to reduce GHG output.
The companies agreed on a partnership to promote the Zero Emission Speed Shuttle (ZESST) and enter the Japanese market. ZESST is an innovative hydrogen-fueled, electric-powered, zero-emission passenger shuttle vessel developed by Almatech.
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