Industry veterans vet and select every vehicle in new one-stop shop

SAN FRANCISCO, Calif., Sept. 23, 2020 (GLOBE NEWSWIRE) -- Today Ridepanda formally launched the world’s first online marketplace for e-rides, offering a handpicked selection of e-bikes, e-mopeds and e-scooters, along with essential add-ons including financing, warranties and personalized customer services. The e-rides industry is surging—with consumer demand high and thousands of products flooding the market. Ridepanda makes it easy for consumers to choose the right e-ride for their individual needs, providing a curated set of expert-vetted products and support services.

“Our goal is to replace car usage and car ownership with climate-friendly and sustainable vehicle options,” said Chinmay Malaviya, co-founder and CEO of Ridepanda. “E-rides are the future of transportation—the technology is better than ever before, and produces less carbon emissions and less waste. Today, we take a step forward as consumers can select a vehicle that matches their needs, while also contributing to positive environmental change.”

“To shift away from cars and to new modes of mobility, we are building simple and easy-to-use online infrastructure reminiscent of an online car dealership,” said Charlie Depman, co-founder and CTO of Ridepanda. “We believe that e-rides can be a beloved replacement for the car if the user experience for discovery, purchase and support is simple and transparent.”

COVID-19 and climate change have both heightened demand for alternate forms of transportation, particularly as ride-sharing or shared public transportation are less attractive options. Because 60% of car trips are fewer than 5 miles, e-ride potential in both urban and suburban areas is massive. While the category-at-large is gaining popularity, e-bikes have seen sustained popularity in a pre- and during COVID-19 landscape. E-bikes experienced 190% growth from June 2019 to June 2020 alone.

"Consumers are looking for flexible, eco-friendly mobility options to augment—or in some cases, completely replace—public transit, rideshare services, and car ownership. The team at Ridepanda saw this trend early on," said Niko Bonatsos, Managing Director at General Catalyst and investor in Ridepanda. "As they build out their micromobility content and services platform, they continue to impress with their deep understanding of this emerging, important market."

Ridepanda’s product offering includes three categories of e-rides: e-bikes, e-mopeds and e-scooters. The easy-to-use Ridefinder quiz helps consumers unlock the best vehicle option for their price range, usage and mileage. A rubric score, that gives a rating for durability, performance, reparability, safety and sustainability, is provided with each product as an additional vetting data point. Ridepanda currently includes select high quality vehicles from leading manufacturers, at accessible price points. Upon purchase, Ridepanda also offers ownership support including financing, insurance, assembly and repairs.

“Our society must move past gas-powered cars as the primary form of transportation,” said Tashi Nakanishi, Co-Founder and Managing Partner of Will Smith’s Dreamers Fund and investor in Ridepanda. “We’re looking to lighten our footprint and be more mindful in how we consume and get around, and Ridepanda makes this future-looking vision a possibility. Owning an e-ride will be the new norm, and we’re excited to support Ridepanda through launch and beyond.”

About Ridepanda
Ridepanda is the world’s first digital one stop for e-rides. Founded in 2020 and based out of San Francisco, California, the company is on a mission to help create a world with happier, more efficient towns and cities that run on small, quiet, eco-friendly electric vehicles. With an expertly curated selection of e-bikes, e-mopeds and e-scooters and personalized customer services, Ridepanda is making e-ride ownership and maintenance easy and fun. For more information, please visit www.ridepanda.com or @TheRidepanda.

Contact:
Ford Donovan
ridepanda@launchsquad.com