Circuit Raises $17M Series B Financing to Scale Electric Shared Mobility

As cities continue to struggle with congestion, limited parking, massive air pollution, and access challenges, the demand for tech-enabled, sustainable solutions is at an all-time high. Recognizing this urgent need, Circuit has positioned itself at the forefront of the solution, offering fully electric last-mile shuttle systems that help alleviate these urban pressures. By providing efficient, cost-effective electric microtransit services, Circuit is redefining urban mobility.

Recently, Circuit announced an exciting milestone: a significant $17M investment by MKB, with participation from its existing investors, including Tribeca Venture Partners, Impact Engine, and others. This funding is part of Circuit’s Series B round, and it marks an important step toward achieving the company’s ambitious growth goals.

“With a proven track record in scaling sustainable transit solutions, Circuit stands out as a leader in cost-efficient and rider-focused urban mobility,” said Antonio Occhionero, Managing Partner at MKB. “We are proud to support Circuit as it continues to lead the way in redefining short-range, electric mobility for cities, businesses and commuters alike.”

The fresh capital injection will help Circuit expand its operations into new cities and regions, enhance its cutting-edge technology platform, and deepen collaborations with cities, properties, and businesses. This investment comes at a time when the electric microtransit industry is experiencing rapid growth, and Circuit’s proven approach has already led to some of the most efficient systems in the market.

With this new funding, Circuit is set to reach even more riders, reduce wait times, and provide an overall enhanced customer experience. New features and improvements will elevate the shuttle service, bringing greater convenience and accessibility to urban environments. Additionally, the investment will create exciting opportunities for advertising partners to leverage Circuit’s platform.

Circuit is no stranger to innovation. With operations in over 40 cities across the U.S., the company has already demonstrated its ability to deliver scalable and impactful solutions that cater to the unique needs of diverse urban communities. By offering on-demand, electric shuttle services, Circuit has shown that microtransit systems can help cities combat congestion, reduce carbon emissions, and bring cleaner air.

“This Series B round marks an important step forward as we execute on our vision to electrify downtown transit systems,” said Alex Esposito, CEO of Circuit. “We’re delivering the right solutions at the right time, as cities look for ways to efficiently address congestion and emissions while improving access and mobility. This capital enables us to expand our partnerships, enhance our technology, and continue scaling sustainable, cost-effective transit solutions.”

Since its Series A in 2022, Circuit has grown fast. Over the past twelve months, the company moved over 1.9 million passengers using 100% electric vehicles and avoiding more than 1,050 metric tons of greenhouse gas (GHG) emissions, doing impressive work for the environment and the fight against human-caused climate change.

2024 saw expansion to new markets for the company such as Orlando, Avalon, Boca Raton, and Long Beach while strengthening and growing the existing presence in areas such as San Diego, New York, West Palm Beach, Fort Lauderdale and Huntington Beach. These achievements highlight Circuit’s commitment to delivering valuable and eco-friendly solutions for last-mile transit.

The Future of Microtransit is Electric

For the microtransit industry, investment in gas-powered vehicles does not make sense. Electric microtransit vehicles are not only more eco-friendly, but more cost effective as well. Electric microtransit is emerging as the solution to age-old transportation problems, for example city streets permeated with gas vehicle fumes. With a focus on sustainability, efficiency, and scalability, electric microtransit services are redefining urban mobility and paving the way for a greener, cleaner future.

What is Microtransit?

Microtransit refers to small, flexible, on-demand shuttle services designed to bridge the gap between traditional public transit options and private transportation. These services typically use small vehicles that can be easily dispatched to meet the unique needs of urban commuters. Unlike fixed-route buses or trains, microtransit operates on a more dynamic schedule, offering residents an efficient, cost-effective, and personalized way to navigate their cities.

The Electric Advantage

Electric vehicles (EVs) are revolutionizing the transportation landscape, and when integrated into microtransit services, they provide a host of benefits:

Environmental Impact: One of the most compelling reasons to transition to electric microtransit is its potential to reduce carbon emissions. Traditional gasoline-powered buses and shuttles contribute significantly to air pollution, while electric shuttles produce zero emissions, helping cities meet their sustainability goals and combat climate change.

Cost-Effective Operations: Operating electric vehicles is cheaper than maintaining gasoline-powered ones. EVs have lower fuel and maintenance costs, translating into more affordable microtransit services. As cities invest in electric infrastructure, these services become even more cost-effective, offering more efficient solutions at a lower cost to municipalities and riders alike.

Scalability: Electric microtransit is scalable, meaning that it can be tailored to the unique needs of any city, regardless of its size. Whether a bustling urban metropolis or a smaller, more suburban area, electric microtransit can be deployed where it’s needed most, easing congestion and providing seamless, flexible transportation options.

Quiet and Comfortable Rides: Unlike traditional vehicles, electric shuttles provide quieter, smoother rides, enhancing the commuter experience. Less noise pollution means a more peaceful, pleasant journey for passengers—perfect for cities that are striving to improve the quality of life for their residents.

A Greener Tomorrow with Electric Microtransit

The shift to electric microtransit is more than just a trend—it’s the future of urban transportation. With its sustainability, efficiency, and adaptability, electric microtransit offers a viable solution to some of the most pressing challenges cities face today. As technology continues to advance and more cities invest in this green mobility option, we can expect electric microtransit to become a cornerstone of the future of urban transportation, providing accessible, affordable, and eco-friendly mobility for all.

EVinfo.net commends Circuit for its great success, and we expect many more electric microtransit companies to step up to fill the growing demands of our clean energy transportation future.

Support Private Funding for EVs and Clean Energy

Some of the forward-thinking companies supporting private investment in the EV industry include MKB, Greenwealth Energy and more. Support these heroes and invest!