Wheels rolls out backed by $37 million in investment capital, and bolstered by executive hires plucked from some of its incumbent competitors. Investors include Tenaya Capital, Bullpen Capital, Crosscut Capital, 3L Capital, Naval Ravikant and what the company termed in a release "a collection of strategic investors from the entertainment and sports communities." The mini-bikes' much larger 14-inch wheels also do a better job than scooters in navigating rough pavement safely. For Wheels' mini-bikes, service teams can drop in fresh batteries as needed at hubs where the bikes are staged for consumers. Though $37 million is a lot of money for most startups, Wheels will face competitors with valuations in the billions.

Source: Forbes January 23, 2019 19:30 UTC