Korean micro mobility startup Gbike is reportedly thinking about obtaining rival groups inside the industry earlier than its scheduled IPO in 2025

Seoul-primarily based micro mobility operator Gbike is making plans to head public on the Korean inventory market in early 2025 and is actively considering acquisitions within the micro mobility industry to expand its market proportion. The CEO, Walter Yoon, revealed in a one-of-a-kind interview with TechCrunch that the startup is in talks for ability acquisitions, targeting around three to 5 groups. Gbike, which lately closed a Series C funding round of $9.1 million, has validated profitability, posting an EBITDA of $40 million and revenue of $13.7 million in 2022. The startup ambitions to innovate the micro mobility environment through its battery-swapping infrastructure assignment.

Gbike differentiates itself with the aid of having the capability to manufacture its personal automobiles, consisting of e-scooters, e-motorcycles, and batteries. The corporation additionally operates with a complete time, included operation group, placing it aside from competitors who outsource subject operators. Gbike’s unique capabilities contribute to its vertical integration and streamlined verbal exchange channels for stepped forward performance. The startup, founded in 2017, released its own-advanced e-bikes in May 2023, operates a fleet of 35,000 e-motorcycles, and has plans to construct 4,000 battery-swapping stations in South Korea via 2030.

The business enterprise, with a fleet of a hundred,000 electric scooters and three.4 million users in South Korea, keeps putting money into worldwide markets, with launches in Thailand and plans for Vietnam in Q1 2024. Gbike is likewise trying out the U.S. Market, having launched in Memphis, Tennessee, in July 2023, and in LA and Guam in December 2023. Yoon stated that the primary recognition remains on South Korea and Southeast Asia, however the organization is exploring opportunities and learning from the unique dynamics of the U.S. Micro mobility market. The aim for 2024 is to attain profitability in Southeast Asia and the U.S. Gbike presently operates a fleet of 2,000 e-scooters in Thailand and another 2,000 in the U.S., with a total body of workers count of 310 as of December.