Voi, a leading European micro-mobility company, has raised $160 million in new funding. The Series C funds take total funding of Voi, over the last four months, to $190 million including the $30m announced in July and completed in September.
The latest round was led by The Raine Group.
Funds raised will be used to invest in technology platform development, fuel growth in current Voi markets and bring Voi’s latest e-scooter model – Voiager 4 – to more cities across its network. In addition, Voi will use funds to further enhance the safety infrastructure of its platform – the company’s number one priority.
Fredrik Hjelm, co-founder and CEO of Voi Technology, says: “We are very happy to welcome Raine’s growth equity fund to the Voi family. They are the strong partners we were looking for and impressed us through their deep knowledge of the industry, through their years of work across the global mobility sector and recent deep dive on the evolving competitive landscape in Europe. We share the same vision that cities should be pleasant places to live, work and travel in – where transport does not pollute the air or cut people off from their environment. We and our city partners fully intend to achieve our target of Vision Zero – e-scooters that generate zero carbon, zero accidents and zero reasons not to embrace the future of transport.”
He adds: “Through a combination of advanced e-scooter technology, increased rider adoption and better operational practices, Voi achieved significantly more rides per active scooter than ever before. By introducing swappable batteries, integrating more sustainable fleet management infrastructure and switching to renewable energy to power our operations wherever possible, Voi has reduced the already minimal environmental impact of e-scooters even further. This funding will help us to continue to offer an efficient and sustainable e-scooter service, while providing people with mobility they can rely on.”
With major new markets, including the UK, opening up to e-scooter mobility solutions, Voi has a major European operator, winning over 2/3 of city license tenders across Europe, including recent wins in Birmingham, Liverpool, Bern and Cambridge and then leading in fleet efficiency across active markets, including top European micro-mobility markets like Berlin, Oslo and Stockholm.