INSUBCONTINENT EXCLUSIVE:
In less than two years, Revel has gone from an idea to a shared electric vehicle startup with more than 1,400 mopeds across Washington,
D.C., and Brooklyn and Queens, New York
led by Ibex Investors.The equity round included newcomer Toyota AI Ventures and further investments from Blue Collective, Launch Capital
and Maniv Mobility.The capital will, as it often does with startups, allow Revel to scale up
CEO and co-founder Frank Reig said this growth will extend to its fleet of scooters within the cities it currently operates as well as
Large United States cities with the right population density and more temperate weather are at the top of the list.Revel is targeting about
10 cities by mid-2020, Reig added.How that growth occurs, and who is behind its operations, is what Reig believes differentiates Revel from
other shared electric vehicle providers such as scooter startups that have had a record of deploying in cities before getting approval from
local authorities.Many startups in the shared industry, including Revel, talk up their focus on safety and desire to be responsible partners
To get that license plate you have to register each vehicle with the Department of Motor Vehicles in each state and show third-party auto
its mopeds to 30 miles per hour
pass an initial safe driving history check
About one out of every 12 applicants does not make it past this screening, according to Revel.Any concerns about users bypassing the
protective headgear are largely erased because both New York and Washington, D.C
have helmet laws, Reig said.No gig workersThe company, unlike most on-demand mobility startups, does not have any gig economy workers,
To ensure the mopeds last, which has become a key factor in the unit economics of shared mobility businesses, they remain on the street.The
mopeds are removed by employees for routine maintenance that occurs every four to six months
stand-up scooters that have inundated cities like San Diego and San Francisco
Instead, employees swap out the batteries on the mopeds, which have a range of about 50 miles.20 months and 1,400 scootersThe idea for Revel
neighborhoods within Brooklyn
In May, after a nine-month pilot, Revel pulled the original mopeds it used in its limited pilot and replaced them with 1,000 new models
built for two riders and equipped with kickstands for parking
With more mopeds in its fleet, Revel expanded the service to more than 20 neighborhoods in Brooklyn and Queens
In August, Revel launched its service in Washington, D.C., where there are now more than 400 mopeds.Revel rides cost $1 per person to start,
followed by $0.25 per minute to ride and $0.10 per minute while parked
Riders who use public assistance programs like SNAP or live in NYCHA housing are eligible for the program.
