An affordable e-bike for the gig economy

Want a sign of the times? The gig economy is now so big that transportation businesses are specifically targeting gig workers.

Fair, a company offering easy leases for used cars, is advertising to prospective Uber drivers, for example. Now a company called Bolt, which just launched in America, is trying to get more delivery drivers on the road with electric bikes custom-made for the rapid delivery market. It’s the old school bike courier meets electric vehicles.

Technavio, a market research company, forecasts the global on-demand food delivery market will grow by 32 percent annually through to 2021 to become a $57.59 billion industry. Much of the urban demand can be met by alternative vehicles, including e-bikes, which are becoming increasingly prevalent on the streets as both rideshare and personal use options.

Bolt’s launch follows a $2.5 million seed funding round led by VC firm Maniv Mobility, along with European e-mobility VC Contrarian Ventures, individual VCs, and former executives of Uber and Deliveroo.