Dutch-French e-scooter startup Dott has announced it has raised $85 million from investors as it plans to roll out e-bikes across Europe. This is a major milestone for the company, which will help it expand its operations and solidify its presence in the e-scooter market.
This funding will enable the company to invest in research and development and build new product features.
This article will discuss the implications of this investment for Dott and the markets it operates in.
Overview of Dott
Dott, the European mobility company leading the industry in affordable and sustainable micro-mobility services, recently announced that it has raised $85 million in its latest round of funding. The investment was led by Paris-based Polaris Partners, with additional participation from existing investors including Magna International and Total Carbon Neutrality Ventures. This brings the total venture capital raised to date by Dott to more than $150 million.
Founded by entrepreneurs Maxim Romain and François Poulailleau, Dott is a full-stack mobility company with digital micro-mobility services such as electric scooters and bicycles available in more than 38 cities around Europe. The company set out to offer clean, convenient, easy-to-access transportation services to help reduce traffic congestion and air pollution due to urban mobility.
Before the latest funding round, the Amsterdam-based startup had already rolled out its V1 electric scooter service in more than 15 cities across Europe and had co hosted an events series called NEXT Mobility Tokyo 2020 that connected global leaders in mobility technologies with corporate executives from Japan’s leading mobile telecom companies. In addition, Dott has also partnered with VW and Mobycon—a Dutch transportation consulting firm—to develop plans for future sustainable transport initiatives across Europe.
The proceeds of this latest funding will help accelerate development on the existing V2 electric scooter platform while enabling expansion into new markets outside of Europe — such as Japan — and developing public policies for private micro mobility services around the globe. With this latest injection of capital, Dott is well positioned to become one of Europe’s leading digital micro-mobility companies as it continues its mission to provide innovative transportation solutions for everyone.
Funding Raised
Dutch-French e-scooter startup Dott has reported that it has raised $85 million from investors, which will be used to roll out its plans to launch e-bikes. This news is the latest sign of the growing interest and investment in electric mobility solutions across the European continent.
Let’s consider what this investment means for the industry and the startup.
Amount of funding raised
Dott, a European startup planning to launch an electric scooter rental system, has recently announced that it has raised $85 million in Series A Funding from investors such as eVentures, Frog Capital and Informal.
The Series A investment is the first major round of large-scale funding that Dott has accepted, demonstrating the company’s financial success and expansive growth plan. This significant raise will ensure company scaling and will be used to expand its presence throughout European cities over the next few months. It also allows the startup to further expand its advanced technology, safety features and battery life of their electric scooters.
This news marks a huge achievement for Dott, who have secured significant backing from their investors in pursuing their shared vision to revolutionise urban mobility with their electric scooters. Following this sizable investment from experienced strategic partners, Dott has clarified that they plan to use this funding to build one of Europe’s most trusted smart urban mobility companies over the upcoming years.
Investors involved in the funding round
The funding round was led by Lakestar, with participation from Impetus and Breega, along with several existing investors such as Airbus Ventures and Plug and Play. In addition, two major new investors were also part of the funding round – Target Global and SK Telecom.
Dott has strategically decided to expand its service in the European Union countries and beyond. So the new investors bring significant expertise in helping Dott build a global footprint to achieve its rapid growth plans for this ambitious venture.
The funding round values Dott at €250 Million after Series B (the current round), making it one of the most successful startups in the Netherlands and Europe. With this significant amount of capital, Dott will focus on expanding its team capacity to develop its services for an ever-growing number of consumers, move into several new markets within Europe exponentially increase their fleet size that currently stands at 4500 scooters spread across four cities – Amsterdam, Paris, Brussels and Milan.
Dutch-French e-scooter startup Dott raises $85 million as it plans to roll out e-bikes
Dutch-French e-scooter startup Dott has raised $85 million in funding to expand its operations and roll out its range of e-bikes. Existing investors including Ideal Invest, BNP Paribas and INKEF Capital led this latest fundraising round.
The additional funding will be used to roll out Dott’s e-bike sharing service in up to 20 European cities in the coming year. It will also help the company develop new products such as scooter-sharing, electric van-sharing, last-mile delivery solutions.
Plans to roll out e-bikes
Dott, an Amsterdam-based mobility company specialising in shared electric scooters and e-bikes, has announced an $85 million Series B funding round led by BMW i Ventures. This funding will enable the startup to move forward with its plans to expand its services across Europe and roll out its e-bikes.
The company plans to introduce a new generation of shared electric scooters across Europe in 2021. It has recently launched its fleet of rental e-bikes in France, Spain, Italy and the Netherlands. However, the company’s founder, Maxim Romain, believes this will be just the start of a larger revolution as they plan to expand beyond Europe into other markets such as the U.S., India and Africa.
In addition to expanding its operations into new places worldwide, Dott plans to leverage it’s Series B funding round by strengthening its position within existing markets with additional investments in technology, marketing activities and customer service operations. Further investments will also be made towards research and development for future products such as their line of e-bikes.
Dott believes that this funding round will bring them a step closer towards their vision of becoming a leading player in urban mobility by providing hassle-free commute options for travellers worldwide.
Expansion plans for other markets
As a result of the successful $85 million fund raising from investors, Dott plans to expand its business to other countries and cities such as Paris, Berlin, Amsterdam and London. The company aims to establish locations in 100 cities by 2022.
Dott will be rolling out a range of new products and services including an improved customer loyalty program, new Bicycle Subscription offering, Mobile-partnered bikes in France; Lime-partnered scooters in the Netherlands, Spain and Italy as well as an expansion into other international markets.
The investment will further accelerate the international expansion of Dott’s existing services in addition to new product lines such as shared micromobility solutions and multi-modal transport options with seamless connections. Additionally, part of the funding will improve overall customer experience by introducing cashless payments options and customer loyalty programs tailored for each city they operate in.
This significant injection of funds following its successful Series A funding marks a promising future for Dott’s domestic and international micro-mobility service offering.
Impact of the Funding
The funding raised by Dutch-French e-scooter startup Dott has greatly boosted the company, allowing them to expand their company and their product range. The $85 million raised will be used to roll out their e-bikes and increase their European presence. This injection of funds will have a great impact on the e-scooter industry as well as the plans of the company.
Let’s look at the impact this funding will have on the e-scooter industry.
How the funding will help Dott
The new funding will give Dott access to capital needed to achieve its ambitious goals. With the additional funds, Dott plans to accelerate the development of current services and products and explore new opportunities.
The funds could help launch new e-scooter fleets across Europe, invest more in research and development, leverage its current platform into new cities, and expand additional services like car-sharing and grocery delivery.
Moreover, the investment could translate into improved customer benefits such as faster transit times between cities or shorter wait times for e-scooter rentals. By strengthening its foothold in Europe, Dott will be looking to capitalise on one of the fastest growing technology markets globally, creating increased employment opportunities.
Ultimately, this strategic investment should result in stronger economic prospects for cities that Dott operates in.
Impact on the e-scooter industry
The latest funding round of $85 million by Dott, an electric scooter startup, marks a significant boost for the e-scooter industry. By raising such a large sum of money, Dott is increasing its footprint in Europe and setting its sights on further expansion. This move is expected to have a transformative effect on the European electric scooter market and could lead to greater competition.
The funds will accelerate research and development, establish its production lines and enhance customer experiences to dominate European cities with their range of models. Dott’s founding team explains that this investment provides an opportunity for increased internal and external efficiency. The ability to more quickly expand into new markets means better service for current customers and an attractive solution for new ones.
The influx of investment from outside investors can also lead to more aggressive pricing strategies that may benefit consumers within the industry – encouraging competition amongst businesses looking for an edge in terms of economic viability over their rivals. To further support this growth within the industry, Dott has provided insights into their plans for future growth, including partnerships with local authorities, wireless charging infrastructure solutions and robust safety initiatives such as protective protocols during use.
This investment will serve as a litmus test for others within the electric scooter market; acting as both inspiration or warning depending on how they innovate or react respectively – ultimately shaping how customers interact within this evolving sector in years to come.
