HomeBusinessDott to roll out e-scooter expansion with extra $70 million funding

Dott to roll out e-scooter expansion with extra $70 million funding

LONDON : Electric scooter rental agency Dott stated on Tuesday it had raised an extra $70 million which it is going to use to roll out new e-bikes, develop into new cities and nations and provide extra providers.

Amsterdam-based Dott had introduced $85 million within the Series B funding final yr and the extra quantity brings the full the start-up has raised thus far to round $210 million.

“We’re all on this crusade against personal cars. We want to make it super simple for anyone who wants to ditch their own car to have other transportation modes,” Dott Chief Executive Henri Moissinac advised Reuters.

The two largest international e-scooter rental operators are Bird Global Inc, which listed in November, and Lime, which goals to go public this yr.

The enterprise is predicted to see additional consolidation as bigger gamers scale up to navigate more durable regulation from cities making an attempt to adapt to e-scooters.

Ride numbers rebounded in 2021 after the COVID-19 pandemic just about shut down operators for prolonged intervals in 2020.

And the scooter rental enterprise is predicted to bear additional consolidation as bigger operators search larger scale to deal with more durable laws from cities.

Dott stated its extra funding was led by new investor abrdn and present investor Sofina. Its present buyers together with Prosus Ventures, the enterprise capital arm of Prosus NV additionally participated within the newest spherical. I declined to touch upon the corporate’s present valuation.

Dott, which has a fleet of 40,000 e-scooters and 10,000 e-bikes working in 36 cities throughout 9 European nations, lately partnered with FREE NOW, a European platform that provides ride-hailing and taxi providers.

Moissinac stated Dott is searching for extra companions “to offer as many options as possible for shared mobility to consumers”, including that it’ll develop in France and Scandinavia, the Netherlands with e-bikes solely and probably Israel.

(Reporting by Nick Carey; Editing by Alexander Smith)



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