Dott, the European micromobility company, announces today the signing of an $85 million Series B funding round led by Sofina, a Belgium-based investment company listed on Euronext Brussels (ISIN BE0003717312) and a supportive partner of entrepreneurs and families managing growing companies, and co-led by Estari, a growth equity investor in European sustainability technology leaders.
New and existing investors including EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, Quadia in partnership with Degroof Petercam and various angel investors are participating in the round. The investment comprises a mix of equity and asset-backed debt financing.
Since its creation in October 2018, Dott has grown to be one of the leading players in Europe, with a live fleet of more than 30,000 e-scooters in 5 countries. Dott has built large, dominant, and profitable strongholds in highly prized micromobility markets in Europe.
According to Dott, their sustainability focus is core to delivering a truly sustainable service to its users, cities, and the planet. By reducing 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”) – the company has driven a 56% reduction in CO2 emissions over the past 12 months.
Dott was selected first in the Paris and Lyon license tenders, two of the largest and most complex cities to operate in Europe.
The $85m investment will be used to enhance the service for users with Ebikes being added to the service in Summer 2021. They also plan to utilize the funding to expand into Spain and the UK.
With so many eyes on the sustainable nature of Mobility, Dott has also appointed Sustainability Board, an industry first, which they say will lead with concrete actions to offer the most sustainable mobility service to transform European cities.
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, in the most reliable and affordable way possible”.