DUBLIN, IRELAND, February 04, 2022 /24-7PressRelease/ — Modmo closed out 2021 with a €5m investment from Ballymore Team CEO Sean Mulryan, as well to to €2.7M raised in September and €1M in March from a lot of angel traders.
Modmo is led by 25-three hundred and sixty five days-venerable Irishman Jack O’Sullivan who relocated to Vietnam to work on product construction in 2019 and launched the electrical bicycle alternate in 2020. At the moment, Modmo has 35 engineers primarily primarily based in Vietnam and expects the headcount to exceed 100 this three hundred and sixty five days.
Modmo founder and CEO Jack O’Sullivan welcomed the closing of the seed investment spherical: “I spent the past 3-years in Vietnam specializing in product construction and returned to Ireland in August to raise the capital we would must ramp up production construct a crew in Dublin to focal point on gross sales, advertising and strengthen. We fill 10 folks within the Dublin place of labor and demand to attain 30 this three hundred and sixty five days.”
Sean Mulryan stated: “The future cities can fill transport sectors powered predominately by electrification. Electrical bikes are already taking part in a feature and are rapidly becoming surely one of the popular modes of city transport during Europe. A resolution that has been confirmed to straight away strengthen human effectively being both mentally and bodily while also helping to combat native combustion pollution. I fully strengthen MODMO’s imaginative and prescient, and I’m mad to make contributions to developing cities extra tremendous, inexperienced, and appetizing to are living in.”
Modmo is currently delivering to 8 European countries and plans to magnify to North The United States with the hole of their first dealership in Vancouver BC, Canada in March. With Germany making up 85% of world gross sales, they’ve been developing an huge servicing community which is in a feature to now provide servicing anywhere within the country interior 48-hours.
Jack O’Sullivan concluded by pronouncing: “The latest investment from Sean will very much rush up our intention of getting an ebike in every family in Europe.”
Modmo’s mission is to rush up the adoption of cycling as a principal mode of city transportation. They strive to interchange fossil fuels with inexperienced energy, preserving the atmosphere, contributing to tremendous air initiatives, and assisting within the enhance of a original, and more fit global each day life. They hope that by 2025, every family will adopt e-mobility as their most popular scheme of transit, and their intention, as a stamp, is to develop to be an industry leader in execute, know-how, and one of the most life like particular person experience.
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