Bikeshare Startup Expanding Into New Markets

VeoRide

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A Purdue University-based startup has announced plans to expand to other cities. VeoRide Inc., a dockless bicycle sharing company, has signed contracts to launch the service at the University of Kansas and New England College in New Hampshire.

The startup, which began service in October on the Purdue campus and West Lafayette, allows riders to use a smartphone to locate a nearby bicycle and unlock it. Purdue says, to date, VeoRide bikes have been ridden more than 15,400 times.

VeoRide plans to make 180 KU-branded bikes available at available at designated bike parking areas throughout the Lawrence, Kansas campus. The university is hosting a launch event April 18 and students, faculty and staff will be able to try the service for free for the first two weeks. Beginning in May, VeoRide will offer pay-as-you-go rides for 50 cents for 15 minutes and will also make monthly and yearly packages available. 

VeoRide was founded by former Purdue students Edwin Tan, who serves as chief executive officer, and Candice Xie, who is the company’s vice president of business development. The company recently opened its own office in West Lafayette after outgrowing its space at the Purdue Railyard coworking facility.

In December, Purdue announced VeoRide was one of eight startups to receive $20,000 in funding from the Elevate Purdue Foundry Fund for achieving "Black Award" status. The university says VeoRide expects to add its service in more universities and cities in the coming weeks.