27 January 2020:
Bird has acquired Berlin based Circ. The combined company will result in Bird adding more than 300 employees to its European operations. Bird today also announced a $75 million extension to its Series D funding round, bringing the size of the round to $350 million.
Travis VanderZanden, founder and CEO of Bird, said, “I founded Bird nearly three years ago because we need to change the status quo and take a transformative stance to combat the traffic and pollution that affect our cities and endanger people globally. To further advance our mission, we’re excited to acquire Circ which is the clear European leader. We like their laser focus on treating cities as their number 1 customer and their mindset of prioritizing profitability over growth.”
Travis VanderZanden, added, “Investors today are looking for financially disciplined companies with a clear path to profitability. More than 12 months ago we shifted our focus from growth to profitability which put us in a position to deliver the strongest unit economics and longest-lasting custom-designed vehicles of any micro-mobility company today.”
Lukasz Gadowski, founder and CEO, Circ, said, “With deep city partnerships and leading technology, we have established ourselves as the micromobility leader in Europe. As a combined company with Bird, we will be able to significantly accelerate our mission throughout Europe to provide safe, available, affordable, convenient, and sustainable rides.”
Ben Kaminski, Partner at Target Global, said, “This is a significant deal for both companies as well as the broader European technology and transportation industries. As the first investor in Circ, we were confident their vision and experience would propel them to the leadership position in micromobility throughout Europe. We are thrilled to invest in the global leader in micromobility and look forward to supporting the joint team as it transforms how people move about their cities.”
Nicolas Chaudron, Managing Partner at Idinvest Partners, said, “Bringing together Circ’s European roots with the added capabilities of Bird’s technology and innovation, will ensure cities throughout Europe, such as Paris, will have world class partners to help them reach their climate action goals. As investors dedicated to the growth of European business, we view Bird’s acquisition of Circ as a testament to what Lukasz and his team have built as well as the positive impact they’ve had on the cities we call home.”
(Source – Bird)