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Electric share bike startup Wheels raises $50 million

Published October 15, 2019

WEST HOLLYWOOD, Calif. (BRAIN) — Wheels, a startup electric bike share company, has raised $50 millionin an investment round led by DBL Partners. DBL's founder, Ira Ehrenpreis, was an early investor in Tesla and is on the electric car company's board.

Wheels was founded by Jonathan and Joshua Viner, who previously founded Wag, promoted as "the Uber for dog walkers." Wheels raised about $37 million in a funding round earlier this year.

Wheels operates in six markets: San Diego, Los Angeles, Atlanta, Chicago, Dallas, and Scottsdale, Ariz. The company plans to expand to more U.S. and international markets and may sells its bikes direct to consumers, as well. 

Topics associated with this article: Bikeshare, Electric bike

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