News Summary

New York-based micromobility startup Infinite Machine, backed by Andreessen Horowitz, has introduced its latest electric scooter, the Olto. Priced at $3,495, the Olto features a 40-mile range with a swappable 48V lithium-ion battery and a top speed of 20 mph on bike lanes, reaching 33 mph off-road. Its modular design allows users to attach a child carrier, rear rack, or basket, and it includes fold-out pedals for pedal-assist propulsion. The Olto can accommodate two riders, supported by a dual-suspension frame. This launch comes amid struggles in the electric two-wheeler market, with significant challenges in the U.S. market, where Infinite Machine aims to establish a strong presence. The company, led by founder and CEO Joseph Cohen, previously secured $9 million in funding to expand its offerings.