Press release
bp invests in free local electric transit business Freebee
- Freebee provides free, on-demand ride-hailing using electric vehicles to app users.
- The service is financed by local governments and entities, such as corporate business parks and universities, to cover defined areas or specific routes.
- The investment will help Freebee target expansion in the US beyond its base in Miami, Florida.
bp ventures has invested $6 million in all-electric ride-hailing business Freebee, a Miami-based company that provides free, on-demand transportation to local communities through their mobile app Ride Freebee. bp led the business’s $8 million Series A funding round, with support from Freebee’s current infrastructure capital partner, Tensile Mobility.
Freebee’s free-to-the-user trips are financed through local governments as part of municipalities’ public transport networks, and also by private entities such as corporate business parks, hotels and resorts, and university campuses. Freebee has established itself as a premier mobility platform in the state of Florida and seeks to address the many issues arising from increased use of personal vehicles in the US, like traffic congestion and increased carbon emissions.
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