Dott, a micro mobility provider in Europe, has announced the successful completion of its Series B funding round. The startup raised $85 million to finance new services and expand its operations. Zouraenua and EXOR Seeds led this investment, with contributions from Naspers Ventures, BMW i Ventures, and other existing investors.
This is now Dott’s largest financial injection since inception three years ago. The startup plans to use the fresh funds for various initiatives such as deepening the service offering via new solutions for both users (e-bikes and e-scooters fleets) as well as for cities (localised urban mobility solutions).
Dott will also use this opportunity to expand its market presence into new European territories. The company plans to strengthen its core teams in its home market of Belgium and launch in France next month.
The board chairperson at Dott stated that “today’s announcement marks a key milestone moment in our journey so far. We are thrilled to strengthen our platform and extend our reach further across Europe and beyond.”
Overview of Dott
Dott, a European e-scooter rental startup, has just announced that it has completed a $85 million Series B funding round. The participants included Prosus Ventures and existing investors such as Atomico and Felix Capital.
This follows a successful Series A funding of $22 million in 2019, allowing Dott to expand its services to 8 cities across Europe.
With this latest round of funding, the company hopes to expand further and establish itself as a leading e-scooter rental service in Europe.
Company Background
Dott is a leading micro mobility platform providing electric scooters, bicycles and mopeds to cities worldwide. Founded in 2018 by Maxim Romain, Mattieu Parigi and Davide Calicchia, Dott began operations in Amsterdam, now surpassing 2.5 million rides. With 700 employees worldwide, it operates in over 20 cities covering four continents — Europe, North America, Latin America and Africa — with expansion plans well underway.
Dott’s shared mobility services offer people access to hundreds of thousands of green electric scooters, bikes and moped unlocked with a simple app that allows users to easily navigate their cities while reducing traffic congestion and air pollution. This commitment to modernising urban transportation has earned them recognition from prominent sustainability awards such as Green Mobility 2020 Award for strategic planning initiatives related to smart energy transitions and mobilisation solutions for climate change mitigation and adaptation.
The Series B round of venture capital funding will enable Dott to further invest in their proprietary technology platform for optimising city operations for both micro-mobility providers as well as local government actors including cities across Europe, where Dott is setting up a large number of city-wide operations; North America; Latin America; as well as Africa through its subsidiary TAU Ventures – focused on investing into impact companies on the continent. This investment marks an important milestone in the company’s efforts to bring its mobility solutions globally while continuing its commitment towards advancing sustainable transportation systems within its partner cities.
Products and Services
Dott is a European scooter-sharing and micro mobility company. The company offers a range of products and services, including electric scooters, bicycles and related accessories such as locks, helmets, charging docks and covering arrangements. The company has recently raised $85 million in its Series B funding round to expand its services across Europe.
Dott provides an online platform through which users can access its vehicles by scanning the QR code on their smartphone. This allows users to unlock their chosen vehicle, make payments via the app, track usage (e.g., number of rides taken), view upcoming rides, receive notifications of changes or updates to service availability and store associated payment information for faster checkout in future visits.
In addition to providing riding services on electric scooters and bikes, Dott also provides rental options for short-term and long-term usage contracts and fleet operations services allowing businesses to utilise Dott’s vehicle fleet for corporate trips or events. Through these offerings, customers of both individuals and businesses have access to a safe and convenient mobility platform designed with user experience in mind.
Series B Funding
Dott, a European micro mobility company, has just announced that it has raised $85 million in a Series B funding round. The round was participated from leading venture capital firm Prosus Venture and other “leading global investors”.
This new funding brings Dott’s total raised to over $125 million and will help them continue to build advanced e-mobility solutions for their customers.
Amount Raised
Dott, a European-based electric scooter startup led by CEO and Founder Alexis Van de Wyer, recently announced that it has raised $85 million in its Series B funding round. The company plans to use this capital to expand its operations into more European cities and enhance its mobility services. This latest capital raise brings the total amount raised by Dott since its inception to nearly $120 million.
The Series B funding round was co-led by Atami Capital, Volt Invest and Endeit Capital and included participation from Target Global, Ventech, Engie Rassembleurs d’Énergies and Zobito. Dott’s product is designed for multiple users, including commuters looking for a last mile solution. These people depend on shared electric scooters for everyday transportation and tourists who visit cities with shared electric scooters. The company currently operates micro mobility services in Paris, Brussels, Porto, Jaipur, and Pune in India. With this new funding round, it will be able to expand into more cities across Europe and Asia.
Dott also contemplates leveraging its new capital to create dedicated mobility lanes in some of the locations where it operates on a trial basis in order to reduce traffic congestion in urban areas. Creating these exclusive lanes for e-scooter riders hopes to significantly improve the experience of urban travel while providing a safe environment for users who opt to get around on their two-wheelers rather than cars or public transport systems.
Investors
The latest round of funding was led by new investors Atomico, the venture capital firm of Skype co-founder Niklas Zennström and Felix Capital; Horizon Ventures, the venture arm of Li Ka Shing; and BOND, a new fund created by Nokia Growth Partners. Existing investors, including Battery and Index Ventures, also participated in the Series B round.
This capital injection will enable Dott to expand its e-scooter business into new European markets. The company is preparing to launch in Paris within the next few weeks and plans to enter four cities in Germany before rolling out across other countries over the coming months. The Series B funding follows an initial €3 million seed round secured in early 2018 and a €30 million Series A round last year.
The total funds raised between Series A and B rounds stands at more than €145 million ($155 million), placing Dott among the top five most well-funded micro-mobility companies across Europe currently operating in 72 cities across nine countries. With this funding, Dott aims to triple its fleet size over the next 12 months, bringing more urban transportation options to people rapidly, responsibly and sustainably.
Dott announces $85 million Series B funding with participation from Prosus Ventures
Today, Dott announced a $85 million Series B funding round with participation from Prosus Ventures. This major investment in the electric scooter start-up has strategic implications for the whole market.
In this article, we will analyse the impact of the Series B funding for Dott and the entire scooter industry.
Expansion Plans
With the successful completion of its Series B funding round, Dott can now pursue several strategic initiatives. In a statement, the company’s CEO noted that the funds would be used to expand into new cities and markets, develop their transportation services such as ride-sharing and bike rentals, diversify its offering of products, and heavily invest in R&D to strengthen its technological capabilities.
The company also plans to use part of the funds to hire top talent to join their rapidly growing team to better accommodate their needs. They are focusing on hiring senior staff with expertise in software development, data analytics and machine learning.
In addition to these expansion plans, the funding will also help forward support the company’s ongoing mission: making smart mobility accessible and affordable everywhere. With this vision in mind, Dott anticipates having a measurable impact on urban transportation over the next several years.
New Hires
The successful completion of Dott’s Series B funding round—bringing the company’s total raise to $115 million—has enabled the company to focus on their ambitious goals. The most immediate result of this investment is the addition of new personnel. These new hires will be essential in furthering the mission and objectives of the company.
Across departments, Dott plans to add roles in Research and Development, Engineering, Product Management, Data Science and Machine Learning. The increased team size allows for greater opportunities in scaling up operations, enhancing infrastructure and technology investments, exploring new partnerships and working on innovative features that will make their micro-mobility solutions smarter and safer.
Moreover, Dott will look for locations that enable reaching maximum markets around Europe quickly. This involves looking for talent both within Holland’s borders as well as abroad. This internationalisation allows for an even larger development potential and more job opportunities in the European tech industry. With this diverse group of professionals,, they can be sure their upcoming products meet customers’ needs while remaining efficient and sustainable globally.
