Bolt Technology OU: Riding into U.S. E-Scooter Markets as Rival Lime Looks to Expand

Bolt Technology OU, an Estonian company, is planning to launch eScooter rentals in multiple cities across the United States. The company is looking to hire general managers and operations managers for cities including Los Angeles, Seattle, and Austin, Texas. Bolt already offers ride hailing, food delivery and scooter rentals in over 45 countries.

This move by Bolt puts them in direct competition with Lime, a San Francisco-based company that operates shared eBikes and scooters in the U.S., Europe and Australia. Lime has received $55 million investment this year from Uber Technologies to expand its global fleet. Both companies are positioning themselves for initial public offerings (IPOs) in the future.

Bolt recently secured a 220-million-euro revolving credit facility from a group of core relationship banks, which will help support their existing strong cash position. CEO Markus Villig expressed confidence in the company’s financial standing and their trajectory towards being IPO-ready. In contrast, electric scooter startup Bird filed for bankruptcy in December but emerged successfully under a new parent company called Third Lane Mobility. Bird will continue to operate in cities worldwide despite facing financial challenges. Both Bolt and Lime are optimistic about their expansion plans and growth prospects in the electric scooter rental industry