Target Information

Skootel is an innovative micromobility start-up based in Puerto Rico, specializing in the rental of scooters and bikes via a user-friendly app. Founded in 2019 by Juan Carlos Parra and Aldo Briano, who returned to Puerto Rico after a decade in Silicon Valley, Skootel has made significant strides in the urban transport sector. As of now, the company operates a fleet of 2,600 scooters and 120 bikes across five markets, achieving over 1.5 million rides and accumulating a user base exceeding 200,000 individuals.

With a dedicated team of more than 50 employees, Skootel has established itself as a vital player in the micromobility space. Users have collectively travelled more than 1.6 million miles, resulting in a substantial reduction of approximately 500 tons of CO2 emissions, highlighting the company's commitment to sustainability and eco-friendly transportation solutions.

Industry Overview in Puerto Rico

The micromobility sector in Puerto Rico is rapidly evolving, driven by urbanization and increasing demand for efficient transportation alternatives. The island has historically faced transportation challenges, such as traffic congestion and limited public transit options. Start-ups like Skootel are addressing these issues by providing convenient and environmentally friendly solutions for commuters and tourists alike.

As more Puerto Ricans and visitors embrace cycling and scooter sharing, the local government is recognizing the need for infrastructure development that supports micromobility. Investments in bike lanes and scooter-friendly policies are essential for fostering growth in this sector. With the ongoing emphasis on sustainability, micromobility offers an attractive alternative to conventional transportation methods.

Moreover, as tourism continues to recover post-pandemic, the demand for flexible transport options is likely to rise. Visitors to Puerto Rico are increasingly looking for ways to explore the island without the carbon footprint associated with traditional vehicular travel. The micromobility sector presents an opportunity to tap into this market while promoting eco-friendly tourism.

Rationale Behind the Deal

CDVCA's investment in Skootel is strategically aligned with the company’s goal of expanding to ten new markets, thereby broadening its operational footprint. This funding will also facilitate advancements in the innovative logistics and data software that power Skootel's services, enhancing the user experience and operational efficiency.

Given Skootel’s impressive growth trajectory and its substantial impact on reducing carbon emissions, the investment presents an opportunity for CDVCA to partner with a forward-thinking company poised to lead the micromobility revolution in Puerto Rico and beyond.

Information About the Investor

CDVCA is an established venture capital firm committed to fostering innovation and supporting growth-stage technology companies. Renowned for investing in businesses that prioritize sustainability and social impact, CDVCA aligns its portfolio with the evolving demands of urban communities.

This investment in Skootel underscores CDVCA’s belief in the critical role of micromobility in creating accessible, efficient, and environmentally friendly urban transport systems. The firm aims to leverage its expertise and networks to assist Skootel in achieving its ambitious expansion plans.

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Dealert considers the investment in Skootel a strategic move with significant potential for long-term returns. The company's innovative approach to micromobility not only addresses pressing transportation issues but also resonates with the growing commitment to sustainability among consumers and municipalities alike.

By expanding its presence in new markets, Skootel can capitalize on the increasing appetite for flexible transportation options while also promoting environmental stewardship. The robust user engagement—over 1.5 million rides—indicates strong market demand, suggesting that continued investment will likely yield favorable results.

Furthermore, Skootel’s focus on developing advanced logistics and data software will enhance operational efficiency, streamline user experiences, and provide valuable insights for strategic growth. Overall, the partnership between CDVCA and Skootel is well-positioned to drive positive change in Puerto Rico’s transportation landscape and beyond.

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