Edwin Tan and Candice Xie, both graduates of Purdue University, are making waves in the transportation sector with their venture, Veo, which they co-founded in 2017. Recently, the University of California, Los Angeles (UCLA) announced a partnership with Veo to further enhance its campus mobility options. This partnership aims to provide students and faculty with convenient and environmentally-friendly transportation solutions, alongside their ongoing collaboration with Bird, a provider of electric scooters.
Veo is deploying 300 Class II Cosmo-e electric bikes on the UCLA campus. Although these bikes have pedal-assist features, they predominantly rely on electric power for acceleration. Users can easily access the bikes by downloading the Veo app, registering, and scanning a QR code on the bike to unlock it for a one-dollar fee, followed by a per-minute usage charge. For those seeking more value, a monthly membership is available for $5.99, which includes unlimited unlocks. Each bike is intended for single riders only, and they must be parked in designated areas on campus after use.
The innovative company was born from the entrepreneurial spirit fostered at Purdue University, where Tan and Xie benefited from the school’s startup incubator, Purdue Foundry. Tan, with a background in mechanical engineering, serves as the president, while Xie, who has a finance background, is the CEO. Their venture was supported through the Entrepreneurs-In-Residence program, which helped them develop their business plan and provided valuable mentorship.
Headquartered in Santa Monica, Veo has achieved certification as a California Green Business after passing stringent criteria, highlighting its commitment to sustainability. The company’s operations focus on energy and water conservation, promoting employee green commuting, eco-friendly procurement practices, and waste reduction. In 2023, Veo proudly received the Sustainable Quality Award, recognized as one of the oldest and most rigorous sustainability business awards in Southern California.
According to UCLA’s transportation department, the selection of Veo and Bird as partners was the result of a thorough bidding process. This collaboration not only allows the university to effectively monitor the operation of shared mobility services but also ensures the safety of riders and pedestrians on campus.
