Blitz Motors

Company Overview

Snapshot

Founded in June 2012 by Raphael Moszynski, Blitz Motors operates with 11–50 employees. The company has raised $10.47 million across two funding rounds from Phoenix Group and Mor Research Applications. Blitz Motors went public on the TASE in December 2020 through a reverse merger with Inbar Group, marking a significant milestone in its growth trajectory.

Business overview

Blitz Motors specializes in providing electric scooters for last-mile logistics, focusing on clean and cost-effective commercial transportation. The company offers a comprehensive suite of services including 24/7 support, operations, insurance, maintenance, and repairs. Its smart eMobility solutions integrate data analytics for predictive maintenance, enhancing operational efficiency for moped fleets. Blitz Motors serves a diverse clientele including private consumers, government agencies, and corporations such as Domino’s Pizza, McDonald’s, Pizza Hut, and the Israel Postal Company, operating within the Automotive & Mobility Technologies sector.

Strategic signal

In January 2024, Blitz Motors announced a leadership transition with Eitan Varon replacing Raphael Moszynski as CEO. This change signals a strategic shift in management, potentially indicating new directions or an effort to address operational challenges, especially after reports in October 2023 of losses and executive salary cuts. Investors will be watching to see how this leadership change impacts the company's financial performance and strategic initiatives.

Company Intelligence Q&A

When did Blitz Motors go public?

Blitz Motors went public on the TASE in December 2020 through a reverse merger with Inbar Group.

What was a significant European deal for Blitz Motors?

In October 2021, Blitz Motors secured its first European deal, valued at approximately 2 million NIS.

Who is the current CEO of Blitz Motors?

In January 2024, Eitan Varon replaced Raphael Moszynski as the CEO of Blitz Motors.

What strategic partnership did Blitz Motors form in 2022?

In June 2022, Blitz Motors partnered with battery startup Addionics to collaborate on Smart 3D electrodes, aiming to enhance its electric scooter technology.

Which major company purchased e-scooters from Blitz Motors in 2021?

In March 2021, Domino's Pizza Israel purchased 450 e-scooters from Blitz Motors for its delivery operations.