ONOMOTION secures €6 million in Series A funding and launches €15 million bond distribution with GLS Bank    

Berlin, December 6, 2022. Berlin-based tech company ONOMOTION has closed its Series A financing of €6 million. In addition, the company is launching the distribution of a bond with a total volume of 15 million euros together with GLS Bank. Series A investors include Proeza Ventures, zu na mi GmbH, the European Innovation Council (EIC) and existing investors. After starting its own production at its Berlin headquarters, ONOMOTION now wants to scale the production capacities as well as the distribution of the ONO e-cargo bike and expand into further markets. As a result, sales are expected to increase significantly. 

Ambitious climate targets and congested roads are pushing for sustainable logistics and mobility solutions. An essential part of this transformation is the last mile, where modular cargo bikes can save space and reduce CO2 emissions. By expanding production, ONOMOTION aims to guarantee customers short and binding delivery times. The company already works with leading logistics companies such as UPS, DPD and Hermes.  

Kai Brentle, CFO at ONOMOTION, spearheaded the financing round: “Inner-city logistics is a business that is primarily about efficiency and profitability. ONOMOTION’s e-cargo bikes can cover all needs in urban logistics due to their modular system and sustainable operation,” says Brentle. He sees ONOMOTION’s great potential in scaling, i.e. the possibility of increasing sales through in-house production and opening up new markets. “This will bring us a big step closer to our vision of tomorrow’s mobility,” says Brentle. 

An important part of scaling up is decentralized production methods, which can be tested at the Berlin site with the new financing. The resulting local sourcing is in line with the company’s overall goal of offering sustainable logistics solutions for urban areas and having a local impact. In the future, this concept is to be transferred to other locations. 

Dirk Kannacher, board member at GLS Bank, says: “Crowded, noisy and emission-rich big cities are a burden on people and the climate – and smart solutions that are cleaner, safer and quieter have long been available. E-cargo bikes are an important component for the transport turnaround.”  

About ONOMOTION 

ONOMOTION is a European tech company based in Berlin. Its goal is to improve the quality of life in cities by rethinking urban logistics. The company combines the fields of micromobility, containerization, the physical internet and artificial intelligence to make urban logistics much more efficient and sustainable. 

About GLS BANK

GLS Bank is the largest and first social-ecological bank in Germany. From the beginning – since 1974 – – the cooperative bank has been exclusively sustainable. The deposits of its community flow into loans for renewable energies, nutrition, sustainable economy, housing, mobility, education and culture as well as social and health. The focus is always on people. The credo behind it: Only together can we create a future worth living.