Spin Raises $8 Million as Bike-sharing Battle Heats Up in the US

Grishin Robotics founder Dmitry Grishin said he believes cities will want to have Spin’s bikes around because of their potential to reduce pollution and traffic and increase users’ fitness. The investor said, “It has surprised me that ride-hailing apps have not significantly reduced traffic jams in places like San Francisco. Traffic is getting worse all the time. We need to add more systematic ways to solve short distance travel. Making bikes more accessible in cities will help. It’s very good for commuters, but also tourists. So it’s a huge market opportunity.”