Blitz Motors

Company Overview

Snapshot

Founded in June 2012 by Raphael Moszynski, Blitz Motors operates with 11–50 employees. The company has raised $10.47 million across two funding rounds. In December 2020, Blitz Motors went public on the TASE via a reverse merger.

Business overview

Blitz Motors develops smart eMobility solutions, specializing in electric scooters for commercial transportation and last-mile logistics. Their offerings include a full range of services such as 24/7 support, operations, insurance, maintenance, and repairs. The company's smart eMobility solutions are equipped with data analytics for predictive maintenance and enhanced operational efficiency, serving private consumers, government agencies, and corporations like Domino’s Pizza, McDonald’s, Pizza Hut, and the Israel Postal Company in the Automotive & Mobility Technologies sector.

Strategic signal

In January 2024, Blitz Motors underwent a significant management change, with founder and CEO Rafael Muzinsky stepping down to focus on business development and sales, and Eitan Veron taking over as CEO. This transition, alongside preparations for a capital raise, signals the company's strategic response to a decline in sales in 2023 and its efforts to stabilize operations and reduce expenses, including a 25% pay cut for Muzinsky in October 2023.

Company Intelligence Q&A

What significant management changes occurred at Blitz Motors in early 2024?

In January 2024, Blitz Motors announced that founder and CEO Rafael Muzinsky would step down to focus on business development and sales, with Eitan Veron appointed as the new CEO. This change was part of a broader effort to address declining sales in 2023 and prepare for a capital raise.

What was the strategic partnership formed by Blitz Motors in June 2022?

In June 2022, Blitz Motors partnered with battery startup Addionics to develop Smart 3D Electrodes for its electric moped fleet. This collaboration aimed to enhance battery performance, increase travel range, shorten charging times, and reduce production costs for Blitz Motors' electric mopeds.

What was the outcome of Blitz Motors' funding round in December 2021?

In December 2021, Blitz Motors raised 20 million shekels from investors. These funds were allocated to accelerate the company's expansion in Europe, driven by high demand for its electric scooters.

When did Blitz Motors begin trading on the Tel Aviv Stock Exchange?

In July 2021, Blitz Technologies began trading on the Tel Aviv Stock Exchange following a merger with Amber Group in May 2021. The company also raised approximately 13.4 million shekels through a private placement around that time.

What was the nature of the deal between Blitz Motors and Domino's Pizza Israel in March 2021?

In March 2021, Blitz Motors completed a deal to fully electrify Domino's Pizza Israel's delivery scooter fleet. This NIS 15.6 million deal included 450 electric motor scooters and three years of servicing, making Domino's Pizza Israel the first company in the country with a 100% electric delivery fleet.