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Dott, a European micro-mobility company, has announces a $70m extension to its Series B funding round. This brings the total Series B funding raised to over $150 million.
The extended round was jointly led by new investor abrdn and existing investor Sofina.
The new investment will enable Dott to accelerate the roll out of its new e-bikes, invest in product development to improve the user experience and expand into new cities and countries.
At the end of 2021, Dott added 10,000 e-bikes to its fleet of over 40,000 e-scooters.
Henri Moissinac, Co-Founder and CEO, Dott, says: “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.”
Alistair Watson, Head of Strategy Innovation, Private Equity, abrdn, adds: “Environmental, social and governance considerations are at the heart of our process as we seek the most sustainable investment opportunities globally. We felt that Dott is well positioned to be a leader in the category, offering a high quality product that has been recognised with significant growth in 2021, alongside a responsible business model which takes a rigorous approach to minimizing its carbon footprint.”
Harold Boël, Chief Executive Officer, Sofina, comments: “Consumers need convenient and clean alternatives to move around cities, and European cities are evolving to encourage these alternatives. As people change their habits and cities adapt their mobility strategy, we at Sofina are convinced that Dott is well positioned to enable sustainable mobility with its fleet of shared clean vehicles, responsibly integrated into cities. Supporting Dott’s expansion is fully aligned with our intent to contribute to a more sustainable future.”
Dott currently operates over 40,000 e-scooters in top cities in Belgium, Finland, France, Germany, Italy, Norway, Poland, Spain, the UK and has been launching a fleet of 10,000 e-bikes since Autumn 2021.
It has a staff of over 500, with its main teams located in Amsterdam, London and Paris.