For public release
Sep 9, 2021
Circuit has expanded its service to 27 locations across the country using about 130 vehicles. More than 5 million rides have been provided to consumers.
Rhinebeck, NY -- Hudson Valley Startup Fund, the member-led angel investing group, announced the completion of its investment in Circuit, the innovative “last mile” transportation company that provides municipalities an affordable, sustainable way to help “reduce congestion and its harmful effects on the environment and our quality of life.”
In addition to providing low-cost, last-mile transportation, the company’s gas-free electric shuttles offer a unique advertising opportunity for marketers eager to reach the key demographic that Circuit’s service appeals to. These advertising partners have also helped municipal partners reduce service costs via a rev-share model, creating a win-win-win for all parties.
Founded on Long Island in 2011 to connect favorite entertainment destinations, Circuit has expanded its service to 27 locations across the country using about 130 vehicles. More than 5 million rides have been provided to consumers in communities in California, New York, Florida, Texas, Colorado, New Jersey, and Massachusetts.
Circuit co-founder Alexander Esposito noted, ““We couldn't be more excited about HVSF’s investment. The funds will help fuel our growth and offer strategic support for our Hudson Valley expansion plans. Since expanding into New Rochelle, we've seen many opportunities in the surrounding areas and throughout the Hudson Valley. We’re excited to provide access to electric transportation and last-mile connections to train stations that will encourage mobility and mass transit use, while reducing congestion and emissions.”
Jeff Werner, managing partner of HVSF commented, "Circuit the perfect company for the HVSF to support. It's a prime example of our mission - economic development in the Hudson Valley. Adding to the value, is the huge ESG component of the Circuit offering. This is a win-win-win scenario on a multitude of levels. I'm so glad that we found this company and that they will be continuing their expansion into and throughout the Hudson Valley."
About Circuit, Inc.
Circuit (https://www.ridecircuit.com/) Circuit uses fleets of nimble cars that fulfill the first-mile last mile gap that’s experienced by municipalities around the world. The service is made possible by collaborating with municipal organizations, and executing innovative OOH/Experiential advertising campaigns with some of the world’s most recognizable brands. For more information, please contact the Circuit team through their website.
About Hudson Valley Startup Fund
HV Startup Fund is a member-managed seed capital fund that launched in 2016 to support high-growth companies in the HV. HVSF is comprised of 65 investors, most of whom are local business and community leaders who invest time and resources to support the region's entrepreneurial ecosystem. The fund provides seed funding, mentorship, and connections for local entrepreneurs, while delivering investment returns to its members. Hudson Valley entrepreneurs are encouraged to submit applications for investment consideration through the HV Startup Fund page on Gust. For more information, please contact Andrew Schulkind, info@hvstartupfund.com.
Press release available for download as a PDF.
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