D’Ornano + Co. performed financial and legal buy-side due diligence for VC-backed company Zoov in the context of the merger of Smoove and Zoov. This merger will enable to create a European mobility champion. Zoov is a French start-up founded in 2017 by Eric Carreel. Its founder expertise in IoT helped to build a state-of-the-art shared e-bike, with an innovative charging solution transferring energy from one bike to the next. Smoove is a well-established and renowned leader of the bike-share industry since 2008, providing dock-based solutions to 23 cities worldwide, including Paris/FRA, Moscow/RUS, Helsinki/FIN or Vancouver/CAN, with a fleet of over 50,000 bikes and e-bikes. Through this merger, the new group will gather technological expertises from both companies, which shall allow for major steps forward in the micromobility market.
Smoove and Zoov merge and give birth to a European leader in MobilityTech