Our investment team were introduced to Zeelo founders Sam and Barney in 2016, shortly after the acquisition of their previous startup – a ride sharing app called JumpIn – by industry giant Addison Lee.
The team came to our attention via our Seed Programme, which saw 4 startups selected for investment from over 200 early stage applicants.
Our thesis at the time centred on backing startups reimagining the ways in which people move, and we were impressed by the team’s ability to leverage AI to accurately predict demand and identify routes.
Today we invest in early-stage industrial, enterprise and climate technologies to increase the pace of innovation at JLR. We expect our portfolio to play a critical role in the long-term transformation of our JLR, and although our thesis and operating model have evolved since 2016, Zeelo’s focus on getting employees to work in a faster, smarter, and more sustainable way continues to delivered on all fronts.
Our early conviction has seen become long term champions of the business. Our 2017 seed investment was followed by participation in Zeelo’s subsequent Series A (2019) and Series B (2021) rounds.
We met Sam and Barney early in their journey and were committed to bringing more than capital to the table from the getgo.
As part of our Seed programme the founders were offered six months free office space at our headquarters in London, and the teams spent many hours together as the business scaled from strength to strength.
Our strong connection to JLR saw the InMotion Ventures team playing a crucial role in facilitating the commercial agreement between the two businesses. Over the years we’ve continued to advocate for the startup internally, and our ability to demonstrate the value of both our investment and the wider partnership has seen the commercial relationship between JLR and Zeelo mature significantly in a way that benefits all stakeholders.
Over the years the InMotion Ventures have supported in a number of additional ways, from introductions to the Tata Group consulting on future busines models and assisting with marketing and communications efforts.
“InMotion Ventures have provided us with much more than just investment. Their connections with JLR have enabled us to secure solid long term contracts, and they have provided us with opportunities to grow our brand, through PR support and showcasing Zeelo at industry events.”
Sam Ryan, CEO and co-founder at Zeelo
Our early investment in Zeelo laid the foundations for a long and mutually beneficial collaboration between the startup and the property team at JLR – who are responsible for ensuring the smooth, safe and sustainable running of company sites across the country.
Following extensive R&D and product development, Zeelo began offering commuter services to the 5,000 JLR employees commuting to and from the Gaydon HQ in 2018. InMotion Ventures was the first corporate investor on the cap table, and in 2018 JLR became the startup’s first enterprise customer.
Many JLR employees now rely on Zeelo’s services to get to and from work, and the partnership has had a significant impact on both congestion and pollution levels in the midlands area. The service has taken hundreds of thousands of car journeys off the roads in the midlands, saving tons of CO2 emissions each month. Zeelo have removed hundreds of cars from JLR’s car park and helped them save thousands of pounds by not having to build new parking spaces. Employees feel happier and more relaxed thanks to a service taking the pain of driving and parking away. Zeelo and JLR are looking at tackling similar problems at other sites around the Midlands.
Last year, both parties began exploring the evolution of the partnership, trialing an electric coach on one of the regular commuter routes. JLR estimates that full-time operation of the vehicle across all of its site routes would reduce its CO2 emissions by 2,500 cubic tonnes per year. A move that would signficantly contribute to the businesses becoming carbon net zero by 2039.
“Sam and his team have been supporting JLR with commuter travel for many years, and we’re delighted our ongoing investment in the business has led to an exploration of how to help all parties achieve their sustainability ambitions. Equity investments are a critical component of our Open Innovation programme, a model for partnering with promising start-ups creating next-generation technologies that support JLR’s strategic transformation”
Mike Smeed, Managing Director at InMotion Ventures
Zeelo is now widely recognised as a global leader in sustainable transportation services. The business has surpassed 10 million rides globally, provides over 500,000 passenger trips per month and removed over 3 million cars from the road in 2024.
The business has been ranked 118 on the Financial Times FT 1000 list, showcasing its impressive growth trajectory as one of the fastest growing companies in Europe. Last year, the team set their sights on the US, opening their first US office in Boston in preparation for a strong expansion into new markets.
This investment is an excellent example of the way in which corporate venturing can have a long-term, tangible impact on both startup and parent company. From sharing an office in 2017 to JLR becoming one of Zeelo’s biggest clients, our on-going investment in Zeelo has been an essential enabler for all stakeholders.
We’re pleased to have been able to play a small part in the growth of this remarkable startup, and as the need for equitable and sustainable transport solutions continues to grow, we’re certain that the best is yet to come.