On your bike: Moby raises additional €2.85m from investors as it looks to scale

Company founded and led by Thomas O’Connell launched Ireland’s first dockless electric bike scheme over three years ago

Thomas O’Connell of Moby Bikes

Moby, the bike sharing start-up, has raised a further €2.85 million in equity funding through the Employment & Investment Incentive Scheme (EIIS), which offers tax relief to investors in qualifying small companies.

The new infusion of capital is intended to support the company's growth ambitions across Europe, where it has recently bolstered its management and sales teams. Additionally, the company has been working on developing new proprietary app-less bike rental and innovative charging technology.

“This ...