BP invests in free electric transport business FreeBee

BP invests in free electric transport business FreeBee

BP Ventures has invested $6 million in the all-electric ride-hailing business Freebee. This Miami-based company 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 infrastructure capital partner, Tensile Mobility.

Freebee finances its free-to-the-user trips through local governments as part of municipalities’ public transport networks and private entities such as corporate business parks, hotels and resorts, and university campuses.

Freebee says it owns a fleet of more than 150 electric vehicles and employs more than 230 drivers full-time and that this investment will help it expand and improve its technology. The service is currently available in more than 25 municipalities and campuses in Florida and Virginia. With this investment, Freebee hopes to expand into seven new cities in the two states before the end of the year.

As well as leading the funding round, BP will work with Freebee on scaling the business across the U.S. and will explore opportunities to collaborate on the roll-out of EV charging infrastructure. Shaun Healey, principal at BP Ventures, will join the Freebee board, along with Dabo Horsfall, CEO of Tensile Mobility.

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