Mahindra Partners with Scoot Networks!
The Scoot Networks, an urban mobility solution in San Francisco has successfully established hundreds of smartphone activated scoots on the road and are driven by thousands of customers every month. Their speciality is that they do not require any motorcycle license as their speed does not exceed 30 mph!
Mahindra recently made it official by announcing a financial deal with the Scoot Networks along with some prior investors like Vision Ridge Capital. They will also be providing them with 500 Mahindra GenZe electric scooters!
What is common between Scoot Networks and Mahindra is their contribution towards developing eco-friendly products. The Genze 2.0 is an environment-friendly venture of Mahindra Group with AT&Ts network.
Anand Mahindra, Chairman, Mahindra Group, said of the transaction: “We are excited to partner with the terrific team at Scoot Networks to provide a sustainable solution to the growing challenges associated with urban commuting – parking, congestion, and pollution. The GenZe 2.0 is designed to intelligently address these challenges by offering relevant and affordable technology.”
They have also associated it with a smarter and demandingly affordable technology. This complements the aim of Scoot Network founder and CEO, Michael Keating, who wishes to make a sustainable, affordable and profitable transport provision. They are thankful to M&M for the resources and now plan to fully focus on developing their business strategies.
Zhooben Bhiwandiwala, the Managing Partner of Mahindra Partners, said “This exciting venture represents Mahindra Partners’ first significant investment in the US and we are optimistic that the team at Scoot Networks will suitably expand and develop this unique sharing model into a globally successful concept.”
Mahindra group has been dealing in the US landscape for the last 20 years. However, this is a unique venture on its own!