News Briefs

Cleantech startup Kite Mobility lands C$3.5m in third seed round

Kite Mobility is a Toronto-based mobile application that connects residents and guests of private buildings with all-electric transportation options.

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  • The rounds investors included Good & Well, The Atmospheric Fund, Alberta Eco Trust and The Greater Montreal Climate Fund
  • Enlightened Building Technologies, a provider of renewable energy and carbon reduction solutions, also made a strategic investment
  • The funds raised and strategic partnerships will help accelerate Kite Mobility’s growth across Canada

Kite Mobility, a Toronto-based mobile application that connects residents and guests of private buildings with all-electric transportation options, has raised C$3.5 million in a third seed financing.

In addition to a follow-on investment from Good & Well, the round included a strategic investment from Enlightened Building Technologies, as well as investments from The Atmospheric Fund, Alberta Eco Trust, The Greater Montreal Climate Fund and members of Low Carbon Cities Canada.

Founded in 2020, Kite Mobility provides residents and guests of private communities access to rent, reserve, pay-per-use, or subscribe to on-demand electric vehicles and e-bikes using its mobile application and charging infrastructure.

The funds raised and strategic partnerships will help accelerate Kite’s growth across Canada.

“TAF is supporting this innovative and proven business model for its significant potential to scale and tackle transportation emissions in cities across Canada,” said Kristian Knibutat, vice president of impact investing at The Atmospheric Fund, in a statement. “We’re pleased to collaborate with other LC3 Centres for the first time to leverage our collective expertise and ultimately mobilize more capital into low-carbon solutions.”

Good & Well is a boutique impact investment firm based in Toronto that invests in and supports entrepreneurs driving social change.

With headquarters in Santa Clara, California, Enlightened Building Technologies is a diversified provider of renewable energy and carbon reduction solutions.

The Atmospheric Fund is a climate agency that invests in low-carbon solutions for the Greater Toronto and Hamilton Area and helps scale them up for broad implementation.