Circuit Raises $17M Series B Financing to Scale Tech-Driven Shared Mobility

NEW YORK, Feb. 13, 2025 /PRNewswire/ -- As cities grapple with congestion, parking and access challenges, the demand for tech-enabled, sustainable solutions has never been greater. Circuit's last-mile shuttle systems address these issues with efficient and cost-effective microtransit services for cities and properties. The company announced the investment by MKB, with participation from existing investors Tribeca Venture Partners, Impact Engine, and others.

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. This proven approach has already led to some of the most efficient microtransit systems in the industry. By leveraging this capital, Circuit aims to reach more riders with shorter wait times, engaging new features, and an elevated overall experience—while also creating new opportunities for advertising partners. With operations in over 40 cities, Circuit has demonstrated its ability to deliver scalable, impactful solutions tailored to the unique needs of urban communities.

"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."

Since its Series A in 2022, Circuit has grown rapidly. Over the past year, the company has moved over 1.9 million passengers using 100% electric vehicles and avoiding more than 1,050 metric tons of greenhouse gas (GHG) emissions. 2024 saw expansion to new markets like 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. These achievements highlight Circuit's commitment to delivering valuable solutions for last-mile transit, while scaling its impact and becoming the default short-trip solution for downtown ecosystems.

"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."

As cities, businesses, and communities embrace the shift toward on-demand, electric transportation, Circuit's scalable public-private model positions it as a leader in short-range, tech-enabled mobility.

Ready to bring sustainable, on-demand transit to your community, boost brand awareness, or catch a ride? Contact Circuit to explore partnership opportunities, or download the Circuit App to experience eco-friendly mobility today.

About Circuit
Circuit is redefining urban transportation with short-trip, electric shuttle solutions that bridge last-mile transit gaps and connect communities in a sustainable, accessible way. Operating in NY, NJ, FL, CA, MA, and TX, Circuit has delivered over 9 million eco-friendly rides using 100% electric vehicles. By partnering with municipalities, developers, and advertisers, Circuit reduces congestion, creates local jobs, and provides turnkey solutions for urban mobility challenges. Discover how Circuit is transforming short-distance travel at www.ridecircuit.com.

About MKB
MKB is a North American private investment firm that specializes in providing growth equity to companies driving innovation in the energy, mobility, the built environment, and related industrial sectors. MKB takes significant minority positions in its portfolio companies and proactively assists management teams in reaching their full potential. To learn more about MKB, visit www.mkbandco.com.

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SOURCE Circuit