Blitz Motors Overview
BLITZ is focused on providing a cleaner, more cost-effective means of commercial transportation and a full range of first- and last-mile services, including 24/7 support, operations, insurance, maintenance, and repairs. The company’s smart eMobility offerings are equipped with data analytics for predictive maintenance and enhanced operational efficiency, enabling customers to mitigate any problems with their moped fleets before they arise. BLITZ scooters have driven over 20 million kilometers to date and saved 95% in overall energy costs for private consumers, government agencies, and corporations including Domino’s Pizza, McDonald’s, Pizza Hut, and the Israel Postal Company.
Cumulative Funding Raised Over Time ($)
Latest News
growth-negative
איתן ורון יחליף את רפאל מוזינסקי בתפקיד מנכ"ל בליץ - Techtime - חדשות אלקטרוניקה והייטק
Blitz Technologies, an Israeli company that manufactures electric motorcycles for urban fleets, is undergoing management changes and preparing for a capital raise. The companys founder and CEO, Rafael Muzinsky, will step down from his role to focus on business development and sales, and will be replaced by Eitan Veron. This comes after a decline in sales in 2023 and the company is preparing to raise capital to ensure its continued operation. Blitz is also in the process of reducing expenses, with Muzinsky agreeing to a 25% pay cut in October 2023. The company is currently traded on the Tel Aviv Stock Exchange with a market value of 12.3 million shekels.
Management ChangesInvestment
Growth-negative
הקטנועים החשמליים של בליץ צברו הפסדים והביאו לקיצוץ בשכר הבכירים | כלכליסט
Blitz, an electric scooter developer, is facing increasing troubles as planned sales are postponed, losses grow, and the companys market value has dropped by 89% from a peak of 238 million shekels in January 2022 to 27 million now. In an attempt to stabilize its situation and reduce its expenses, the company has decided to cut senior salaries. The CFO left after a short period and the chairman also resigned. The companys main markets are Israel, Belgium, the Netherlands, and Britain and so far it has sold about 2,000 scooters. Most of its revenue comes from operations in Israel. Dominos Pizza franchisee was responsible for 33% of its revenues in 2022 and 45% in 2021.
Layoffs
growth-positive
Blitz Motors signs up with battery startup Addionics on Smart 3D electrodes
Blitz Motors has signed a collaborative agreement with battery startup Addionics to develop Smart 3D Electrodes for its electric moped fleet. The partnership aims to improve battery performance and reduce production costs for Blitzs electric mopeds. Addionics Smart 3D Electrodes will increase travel range, shorten charging times, and enhance overall safety. The optimized batteries are expected to be completed in 2023. Blitz Motors is the largest manufacturer of smart electric mopeds in Israel, while Addionics is a battery technology company focused on battery physics. The collaboration will accelerate the transition towards greener electric transportation.
PartnersCustomers
growth-positive
בליץ השלימה גיוס של כ- 20 מיליון ש״ח
BLITZ, an electric scooter company, has raised 20 million shekels from several investors, including Phoenix Group and Mor Investment House. The funds will be used to accelerate the companys expansion in Europe due to the high demand for its product. The company is also planning to expand its presence globally and focus on replicating its success in several countries in Europe and South Africa. This week, the company will deliver dozens of its first scooters as part of the deals recently reported to customers in the Netherlands, Belgium, and France.
InvestmentExpand
growth-positive
עסקה ראשונה לבליץ באירופה בהיקף של כ-2 מיליון ש"ח
Blitz Technologies, an electric vehicle company, has announced its first deal in Europe. The company has received an initial order from a last-mile delivery company that serves customers such as Amazon, IKEA, and Zolando. The order, valued at approximately €500,000, includes the delivery of electric scooters and related services over a period of 3 years. The company plans to start delivering the scooters in the fourth quarter of 2021. Additionally, Blitz Technologies is expanding its proof-of-concept projects and activities to France. The parties have also agreed to further collaboration in 2022, with a potential order worth around €2.5 million. The company aims to grow globally and distribute its unique solutions in new territories, particularly in Europe.
Customers
| Sector | Automotive & Mobility Technologies |
Funding
| Total funding | $10.47M |
| Last funding | $6.31M |
| Stage | Public |
| Rounds | 2 |
| Investors | 2 |
Team Members
3
Employees: 11-50
Web & Social Links
| Website | blitzmotors.com/ |
Locations
Yisra'el Bak St 7, Tel Aviv, Israel
Leuvensesteenweg 48a, 1932 Zaventem, Belgium
Photos & Videos
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