Bond Mobility announced Wednesday it raised $20 million in Series A funding from DENSO's New Mobility Group, which includes Toyota and Softbank. Bond Mobility cofounder Kirt McMaster was ousted as CEO of his last startup, Cyanogen, in the wake of reports the company exaggerated its success and misled investors. McMaster told Business Insider that speed e-bikes solve the last-mile problem in urban and suburban centers better than e-bikes and scooters currently on the market.