Dott, the European micro-mobility company, has recently secured an $85 million (approx £61 million) Series B funding round. The investment comprises a mix of equity and asset-backed debt financing.
The funding round was co-led by Belgium-based Sofina and UK-based Estari, with participation from EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, Quadia, and various angel investors.
As mentioned in the company press release, the funding will be used to expand its service into new cities in UK and Spain. Also, the company is launching new micro-mobility vehicles to European cities, starting with e-bikes in summer 2021.
UK operations on cards
UKTN has also learned that Dott is planning to launch their e-bikes in London this summer; while there was no information on which borough they planned to foray into, we can expect that the Amsterdam-headquartered company is planning to launch operations in the country very soon.
As far as their e-scooter launch is concerned, they’re still waiting for the results to be announced by TfL on the e-scooter London tender.
Operates over 30,000 e-scooters
Founded by Henri Moissinac, and Maxim Romain in 2018, Dott is on a mission to free our cities with clean rides for everyone.
Dott currently operates over 30,000 e-scooters in top cities in Belgium, France, Germany, Italy, and Poland. In 2020, Dott was selected first in the Paris and Lyon license tenders, two of the largest and most complex cities to operate in Europe.
It’s worth noting that Dott has built a profitable stronghold in the major European market even though it has raised a fraction of the capital raised by peers.
56% reduction in CO2
The company also reduces its carbon footprint across the entire lifecycle of vehicles – from the supply chain (using the most durable hardware) to street operations (swappable batteries, renewable energy, electric fleet for logistics) to end-of-life processes (“repair, reuse, recycle”).
As a result, the company has driven a 56% reduction in CO2 emissions over the past 12 months. Dott has a staff of 280, with its main teams located in Amsterdam, London, and Paris.
“We’ve shown in the first two years that we can offer a great service for users, good for the planet and good for European cities,” said Henri Moissinac, CEO, and co-founder, Dott. “We think we have a winning formula now, combining operational excellence, hardware & software expertise, collaboration with city stakeholders, and capital efficiency. Thanks to our new and existing investors, our aim is now to accelerate, serve more users and more cities, most reliably and affordably possible”.
“We are confident about our future partnership with Dott. We were impressed by the management and look forward to helping the company shape the future of urban transportation, in a context where it is clear that conventional urban mobility cannot be sustained” said Harold Boël, CEO, Sofina.
“When we first partnered with Dott in 2018, we recognized the team was building a sustainable, long-term business that stood out amongst others in Europe and we are excited to continue with them on their journey,” said Martin Tschopp, CEO, Prosus Ventures. “Through incorporating top-notch safety and usability features on their e-scooters and e-bikes, offering first-to-market benefits to riders, and working collaboratively with local governments to ensure their solutions work seamlessly within the communities where they operate, Dott has become a true leader in the micro-mobility sector in Europe.”