Veo

What Veo does

Veo (VeoRide, Inc.) is a Santa Monica-based shared micromobility company that designs, manufactures, and operates a fleet of electric scooters, e-bikes, and purpose-built accessible vehicles across more than 50 North American cities and university campuses. The company runs an in-house vehicle engineering program that has produced six distinct vehicle types — the Astro standing scooter, Cosmo seated scooter, Apollo Cargo e-bike, Apollo Duo two-seater, Rover electric trike, and an Electric Adaptive Wheelchair Device — distinguishing it from competitors that primarily operate standing scooters. The platform is delivered through a consumer mobile app (iOS and Android) with Bluetooth connectivity, QR-code unlocking, real-time fleet tracking, and AI-powered parking coaching, and is supplemented by a call-based access system for non-smartphone users.

Veo generates revenue primarily through per-minute usage fees (e.g., $1 unlock + $0.25/min in Denver), complemented by a layered subscription stack — VeoPlus Commuter, VeoPlus Premium, and the prepaid VeoPlus Pass — and an income-qualified Veo Access discount program. Enterprise revenue comes from Veo for Business deployments with corporate and federal clients such as NASA Goddard Space Flight Center, while municipal revenue is secured through competitive city procurement processes that have produced exclusive three-year operator licenses in Denver and Salt Lake City, with 150+ local W2 jobs tied to the Denver contract. The company has also co-developed vehicles with disability advocacy organizations including the Parkinson's Foundation, New Disabled South, and Capitol Hill Village.

In fiscal year 2024, Veo reached $52 million in revenue, 71% vehicle profitability, and $3.25 revenue per $1 of investment, becoming the first North American shared micromobility operator to achieve EBIT profitability — a milestone it has reported sustaining into 2025. The company was named to Fast Company's World's Most Innovative Companies of 2026 (5th in Transportation) and recognized as a Top GreenTech Company by TIME. Founded in 2017 and backed by a $16 million Series A led by Autotech Ventures in 2021, Veo is led by co-founder and CEO Candice Xie and co-founder and president Edwin (Yanke) Tan.

Name

Veo

Legal name

VeoRide, Inc.

Website

https://veoride.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Veo is a Santa Monica-based shared micromobility company that designs, manufactures, and operates electric scooters, e-bikes, and accessible vehicles across 50+ North American cities and university campuses, serving individual riders, corporate clients, and municipal governments.

Ownership category

akta.pro rank

Product category

Shared Micromobility Services

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510), Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Scootershare (Dockless E-Scooters) (TLAFAMAG)

akta.pro secondary industries

E-scooters & E-mopeds Manufacturing (IMACAOAB), E-Bike Rentals (THADAGAE), Shared Mopeds/Motorbike Share (TLAFAMAH)

Keywords

• Shared micromobility services
• Electric scooter sharing
• E-bike sharing platforms
• Accessible micromobility vehicles
• Corporate mobility programs

Headquarters

HQ city

Santa Monica

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Per-minute usage fees: Veo charges riders per minute of usage (e.g., $0.25/min in Denver). This is the primary revenue stream for non-subscription riders. Unlock fees (e.g., $1 in Denver) are also charged on a per-ride basis.
2. VeoPlus Subscriptions: Monthly and weekly subscription memberships offering discounted or free rides. Commuter plan offers ~$15/week with two free 20-minute rides per day. Premium monthly plan waives unlock fees. VeoAccess provides income-qualified discounted fares.
3. Veo Enterprise / Corporate Mobility Programs: Veo Enterprise provides custom micromobility programs to companies such as NASA, with custom-branded fleets, data dashboards, and management controls. Revenue is generated through subscription or per-ride arrangements with corporate partners.
4. VeoPlus Pass (Prepaid Minutes): Prepaid bundles of ride minutes sold as short-term passes (1, 3, or 7 days), with no unlock fees and discounted per-minute rates, potential savings of 55% off standard rides.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Veo designs, manufactures, and operates a shared micromobility fleet of electric scooters, e-bikes, cargo e-bikes, two-seater e-bikes, and electric trikes across more than 50 cities and universities in North America. Riders locate, unlock, and pay for vehicles through Veo's iOS/Android mobile app via QR-code scanning, with usage billed per minute or via subscription. Veo also provides VeoPlus subscriptions, the income-qualified Veo Access discount program, Veo Enterprise corporate mobility solutions, and an Electric Adaptive Wheelchair Device in NYC for accessibility.

Product overview

Veo operates a shared micromobility platform providing diverse vehicle types across 50+ cities and universities in North America. The core offering is a mixed fleet including standing scooters (Astro), seated scooters (Cosmo), cargo e-bikes (Apollo Cargo), two-seater e-bikes (Apollo Duo), and electric trikes (Rover), accessible through a unified mobile app. The platform is complemented by VeoPlus subscription tiers offering discounted and prepaid ride options, the Veo Access income-based discount program, and Veo Enterprise/Business programs for corporate partners. Veo designs and manufactures its vehicles in-house and provides accessibility-focused options including seated vehicles and adaptive wheelchair devices.

Differentiator

Problem solved

Functional benefit

Brands

• VeoPlus: Monthly subscription program offering discounted rides with benefits like free unlocks and reduced per-minute rates
• Veo Access
• Veo Enterprise
• Rover
• Apollo Cargo
• Apollo Duo
• Cosmo
• Astro

Products and services

• Rover Electric Trike North America's first shared electric trike, designed for riders seeking greater stability, comfort, and accessibility. Features a three-wheel design, throttle-based electric assist, 10 mph top speed, and cargo baskets capable of carrying up to 100 pounds.
• Astro Standing Scooter Veo's standing electric scooter available across its service markets, providing a compact and maneuverable option for urban transportation.
• Cosmo Seated Scooter Industry-first seated electric scooter designed for stability and approachability, featuring a comfortable seat and throttle-based propulsion that makes riding more accessible for diverse ages and abilities.
• Apollo Cargo E-Bike North America's first free-floating shared cargo e-bike, designed to support everyday trips like grocery runs and errands that previously required a car.
• Apollo Duo Two-Seater E-Bike Two-seater electric bike allowing riders to travel together safely, expanding shared micromobility to accommodate companion trips.
• Electric Adaptive Wheelchair Device (NYC) Free device that converts standard human-powered wheelchairs into electric wheelchairs, extending shared electric vehicle access to persons with varying abilities. Offered at no cost to NYC residents with complimentary delivery, installation, and pickup.
• VeoPlus Subscription Subscription service offering discounted rides with options including Commuter (weekly with two free 20-minute rides daily), Premium (monthly with no unlock fees), and Pass (prepaid ride minute bundles). Includes free unlocks and up to 55% savings on rides.
• Veo Access Income-based discounted fare program providing reduced rates for qualifying residents receiving local, state, or federal assistance such as SNAP or Medicaid. Pricing varies by city, with some locations offering free daily ride minutes.
• Veo for Business / Enterprise Corporate mobility program serving employees and visitors at workplaces, corporate campuses, and business parks. Includes custom branding, real-time fleet tracking, data dashboards, management controls, and integration with commuter benefits platforms.
• Veo Mobile App Mobile application for iOS and Android enabling users to locate, unlock, and pay for Veo vehicles. Features include QR code scanning, real-time fleet tracking, parking guidance, Bluetooth connectivity, and membership management.

Quantifiable outcome

• 68% of Veo riders replaced car trips with shared scooter or bike trips in the past 30 days due to high gas prices; 34% did so frequently.
• +7 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature7 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• City of DenverflagshipStrategic or Co-development PartnerVeo was selected as Denver's exclusive shared micromobility operator for three years starting May 2026, replacing Lime and Bird. Contract includes deployment of ~9,000 vehicles across five vehicle types (including Rover trike), Veo Access low-income pricing, and advanced safety technology. Veo is creating 150+ local W2 jobs and generating revenue for the city.
• City of Salt Lake CitycoreStrategic or Co-development PartnerVeo launched shared electric scooter service in Salt Lake City on July 22, 2026 with 1,000+ vehicles including seated Cosmo and standing Astro scooters. City partnership includes a mixed fleet with 50% seated models for accessibility.
• NASA Goddard Space Flight CentercoreStrategic or Co-development PartnerNASA partnered with Veo Enterprise to provide custom micromobility programs for employees and visitors at its Goddard Space Flight Center campus. The program aims to provide accessible, sustainable transportation, reduce shuttle and parking costs, and support NASA's sustainability goals.
• Disability Mobility InitiativecoreStrategic or Co-development PartnerCo-designed the Rover electric trike with the Disability Mobility Initiative and 20+ other organizations, shaping features such as throttle assist, low stable riding position, and cargo capacity to serve disabled riders, older adults, and others seeking greater stability.
• Parkinson's FoundationcoreStrategic or Co-development PartnerPartnered with the Parkinson's Foundation in the co-development of the Rover trike, providing input on features such as throttle-based propulsion, seating, and stability for riders with movement disorders.
• New Disabled SouthcoreStrategic or Co-development PartnerPartnered with New Disabled South in the co-design of the Rover trike to ensure the vehicle serves the needs of disabled riders in the Southern United States.
• Capitol Hill VillagecoreStrategic or Co-development PartnerPartnered with Capitol Hill Village in the co-development of the Rover trike, representing older adults who benefit from seated, throttle-powered vehicles.
• Anna Zivarts / Nondrivers AllianceminorStrategic or Co-development PartnerAnna Zivarts, Director of the Nondrivers Alliance and author of 'When Driving Is Not an Option,' provided input on the Rover trike's design and advocates for inclusive micromobility.
• NYCDOT (New York City Department of Transportation)coreStrategic or Co-development PartnerVeo participates in the NYCDOT Shared E-Scooter Pilot program in the Bronx and Queens service areas, operating under regulatory framework established by the city.
• Oregon State UniversitycoreStrategic or Co-development PartnerOregon State University launched a new bike and scooter rental program on its Corvallis campus using Veo's micromobility fleet, providing accessible, sustainable transportation for students, employees, and visitors with discounted rates.
• City of Rochester, NYcoreStrategic or Co-development PartnerRochester city partnership has produced record ridership with 567,000+ rides in 2024 (33% increase). Seasonal service runs through the year with a winter pause.
• City of Syracuse, NYcoreStrategic or Co-development PartnerSyracuse city partnership recorded over 625,000 rides in 2024. Seasonal service pauses for winter and resumes around mid-March.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Lime: Lime is one of the largest shared micromobility operators in North America and Europe, offering e-scooters and e-bikes across dozens of cities. Veo displaced Lime in Denver, making them a direct head-to-head competitor for municipal contracts and rider share.
• Bird: Bird is a publicly-listed shared e-scooter operator competing for the same municipal contracts and rider demographics as Veo. Veo displaced Bird alongside Lime in Denver, and Bird remains a direct competitor in many other markets.
• Spin (Tier): Spin, acquired by Tier Mobility, operates shared e-scooter and e-bike programs across US universities and cities, competing directly with Veo for campus and municipal contracts. Tier's European scale and capital base make it a notable competitor in the shared micromobility space.
• Superpedestrian: Superpedestrian designs and operates shared e-scooter fleets with a focus on safety technology and vehicle durability, competing with Veo for municipal contracts. Its in-house vehicle engineering approach parallels Veo's manufacturing-led strategy.
• Revel: Revel operates shared electric mopeds and has expanded into shared e-bikes and ride-hail in NYC. Its focus on throttle-powered shared vehicles (mopeds) overlaps with Veo's Rover trike and broader shared-micromobility positioning.

Broad incumbents

• Lyft: Lyft operates shared micromobility (scooters and bikes) as part of its broader ride-hail and multimodal platform. While not a micromobility pure-play, Lyft competes in the same urban mobility wallet and municipal contracts as Veo.
• Uber: Uber integrates shared bikes and scooters through partnerships and its own JUMP-derived operations into its global ride-hail and mobility platform. Uber's scale, capital, and rider base position it as a broader incumbent competing for the same urban mobility trip.

Regional players

• Voi Technology: Voi is a leading European shared e-scooter operator with significant presence across 100+ cities. While primarily European, Voi competes for global best-practice recognition and represents a comparable operating model Veo could face if expanding internationally.
• Dott: Dott operates shared e-scooter and e-bike fleets across European cities with a focus on operational sustainability and durable vehicles. While primarily European, Dott's focus on fleet economics and city partnerships mirrors Veo's operating model.

Others

• Segway-Ninebot: Segway-Ninebot is the dominant OEM manufacturer of shared e-scooters globally and a key supplier to operators including Bird and Lime. As Veo manufactures its own vehicles, Segway-Ninebot is both a potential supplier/partner and a competitive reference point for vehicle technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VeoMobility
• Facebookfacebook.com/VeoMobility
• LinkedInlinkedin.com/company/veomobility
• Instagraminstagram.com/veomobility

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veo