Bolt's custom-made scooters offer an up to five-year lifespan, are 100 per cent recyclable, and aim to soon be carbon negative.
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Bolt is reportedly the first on-demand transportation platform in Europe to have e-bikes, scooters, and ridehailing under a single brand in one app.
The funding round, led by Naya Capital Management, aims to allow the ride-hailing firm to expand and capitalise on evolving passenger demand that has been triggered by COVID-19.
The goal of the funding is to support Bolt’s product development and research in areas where the use of technology can improve the safety, reliability and sustainability of its services.
After seeing 1.5 million passengers and recruiting 30,000 drivers since the June 2019 London launch, Bolt has unveiled a new hub for drivers in Chiswick, London, which aims to connect current and prospective drivers.