Electric scooters of Dott sharing service are seen on the firm’s headquarters in Wissous, close to Paris, October 25, 2019. REUTERS/Charles Platiau
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LONDON, Feb 1 (Reuters) – Electric scooter rental agency Dott stated on Tuesday it had raised an extra $70 million which it’s going to use to roll out new e-bikes, develop into new cities and nations and supply extra providers.
Amsterdam-based Dott had introduced $85 million within the Series B funding final yr and the extra quantity brings the entire 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 instructed Reuters.
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The two largest international e-scooter rental operators are Bird Global Inc (BRDS.N), which listed in November, and Lime, which goals to go public this yr. learn extra
The enterprise is predicted to see additional consolidation as bigger gamers scale up to navigate harder regulation from cities making an attempt to adapt to e-scooters. learn extra
Ride numbers rebounded in 2021 after the COVID-19 pandemic nearly shut down operators for prolonged durations in 2020.
And the scooter rental enterprise is predicted to endure additional consolidation as bigger operators search larger scale to deal with harder rules from cities. learn extra
Dott stated its extra funding was led by new investor abrdn (ABDN.L) and present investor Sofina (SOF.BR). Its present buyers together with Prosus Ventures, the enterprise capital arm of Prosus NV (PRX.AS) 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, not too long ago partnered with FREE NOW, a European platform that provides ride-hailing and taxi providers.
Moissinac stated Dott is in search of extra companions “to offer as many options as possible for shared mobility to consumers”, including that it’s going to develop in France and Scandinavia, the Netherlands with e-bikes solely and presumably Israel.
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Reporting by Nick Carey; Editing by Alexander Smith
Our Standards: The Thomson Reuters Trust Principles.