We are pleased to announce that we have invested in Grin, a Latin America-focused e-scooter startup co-founded by Sergio Romo, Bryan Zambrano, Jonathan Lewy, and Karime German. The team started working on the project after missing out on investing in the U.S. scooter startups, whose fundraising and valuations have been lastly skyrocketing, and the startup recently debuted in Mexico City.
We invested together with Sinai Ventures, monashees, Liquid2 Ventures, Investo, Base10 Partners, 500 startups and some business angels, among which Ariel Poler from InReach Ventures, in addition to Y Combinator, which has selected Grin for their acceleration program.
To avoid one of the biggest pain in the scooter market, Grin has decided to partner with restaurants, retailers and corner stores to provide special parking areas for scooters, offering discounts to the users that deliver correctly the scooter. The stores get visibility inside Grin app, which physically drives users to the store nearest their destination.