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In this episode, Oliver interviews Frank Reig, CEO of Revel, an e-mopedsharing system in NYC/DC that has just announced a $27.6m raise to expandto 10 new cities.It’s a fascinating interview as shared e-mopeds have a number of keyoperational improvements over the more popular kick scooter/electric bikeshared systems that we’ve seen.Specifically we discuss:- Their recent raise and plans for the next 12-18 months.- Their origin story from Frank’s experiences in Argentina and hisbackground in the electric vehicle space- The financial, infrastructural and operational advantages of usinge-mopeds over normal kick scooters, and how that drives them to considerthemselves more like a parallel to the carshare industry than the kickscooter industry.- Their fleets in NYC and DC, and the experiences they’ve had working withregulators in both.- How they deal with parking, and why they believe that is part of Revel’s‘special sauce’.- A deeper dive on both their vehicle longevity and their swappable batteryadvantages.- Why they’re able to finance all their vehicle, and how that improves thecapital efficiency of the operations.- How they think about competition, especially from larger players.- How their full time labor model changes regulatory conversations withcities.- How their vehicle type lends itself to longer trips, and the role thatthey play as a transport option in a suburb with relatively lowconnectivity options.- How they’re able to end up being a cheaper operator than both Bird andLime in some markets.- How they were able to learn from Scoot and it’s lessons from San FranciscoReflections on their safety and insurance practices- Other form factors that would make sense for them to expand into in thefutureThanks to this week’s sponsor Particle. Particle provides an end-to-end IoTplatform, from device management to connectivity to hardware for connectingmicromobility vehicles to networks and reducing complexity as operationsscale. For operators that I’ve talked to, they’re a godsend in the world ofhighly complex and competitive operations.Visit Particle.io/micromobility to learn more and request a free IoTdevelopment kit. All podcast listeners will also receive a freeconsultation. Visit Particle.io/micromobility today.
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