Circuit, a provider of urban transportation providing short-trip, electric shuttle services, raised $17 million in Series B funding to scale its tech-driven shared mobility solutions.
MKB is a North American private investment firm, led the investment round.
The new funding, part of Circuit’s Series B round, will support the company’s expansion, further enhance its proprietary tech platform, and strengthen partnerships with cities, properties, and businesses.
Since its Series A in 2022, Circuit has grown rapidly. Over the past year, the company has provided transportation services to over 1.9 million passengers using 100% electric vehicles and avoiding more than 1,050 metric tons of greenhouse gas (GHG) emissions.
Circuit is currently operating in Orlando, Avalon, Boca Raton, and Long Beach while strengthening and growing existing programs in areas such as San Diego, New York, West Palm Beach, Fort Lauderdale, and Huntington Beach.
By partnering with municipalities, developers, and advertisers, Circuit reduces congestion, creates local jobs, and provides turnkey solutions for urban mobility challenges.
“This Series B round marks an important step forward as we execute 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,” added Alex Esposito.