Kite Mobility Secures $3.5M Funding to Revolutionize Electric Vehicle Sharing in Multi-Family Buildings

Kite Mobility, a Toronto-based startup, has raised $3.5 million to expand its unique electric mobility sharing platform designed for multi-family residential buildings. The company collaborates with real estate developers to provide EVs, e-bikes, and e-scooters in such communities.
The startup has already formed partnerships with over 50 developers in Canadian cities like Toronto, Montreal, Ottawa, and Vancouver. The new funding is expected to sustain the company for 12 to 18 months as it scales its operations to fulfill existing contracts and expand into new markets.
Kite’s innovative model not only offers convenience but also brings environmental benefits. According to analysis by The Atmospheric Fund, Kite has the potential to reduce 200,000 tonnes of carbon emissions in the Greater Toronto and Hamilton Area over the next 20 years.