Dott announces $70 million extension to Series B funding round
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Posted: 3 February 2022 | Intelligent Transport | No comments yet
Bringing the total Series B funding raised to over $150 million, Dott can now accelerate the rollout of its new e-bikes – expanding into new cities and countries – while investing into existing product development.
European micro-mobility company Dott has announced a $70 million extension to its Series B funding round, bringing the total Series B funding raised to over $150 million in a mix of equity and asset backed debt, including the $85 million announced in spring 2021.
First created in October 2018, Dott has since grown its operations to cover 36 cities in nine countries across Europe. At the end of 2021, the micro-mobility company added 10,000 e-bikes to its fleet of over 40,000 e-scooters, broadening its offering and providing more choice to its riders, who took 130 per cent more trips than in 2020.
As micro-mobility use continues to grow across Europe, the new investment enables Dott to accelerate the rollout of its new e-bikes, invest in product development to improve the user experience and expand into new cities and countries.
Dott prioritises the safety of its riders, other road users and pedestrians and, thus, collaborates closely with the cities that it operates in to offer a service adapted to the needs of each city. Pioneering a model using entirely in-house operations, the company has greater control over the quality of its logistics and vehicle maintenance, resulting in a safe and reliable service for its users.
Henri Moissinac, Co-Founder and CEO of Dott, said: “We reached a significant milestone for our business in 2021, launching e-bikes to extend our offer with a vehicle that is more familiar to many people and broadens the appeal of our service. Starting 2022 with additional funding will propel our growth and allow us to offer environmentally friendly travel to more people. We look forward to working with our new investor, Abrdn, alongside our existing partners to expand our reach and help achieve fresher air and less traffic for everyone.”
Business Models, On-Demand Transport, Passenger Experience, Sustainable Urban Transport
Bikes & Scooters