Dott Micromobility Raises Series B funding round

Dott Escooters and Ebikes, the micromobility company which we have covered in 2021 have today announces a $70m extension to its Series B funding round.

With a whooping $150m total with a mix of equity and asset backed debt, including the $85m announced in the Spring of 2021.

The new investor ABRDN and existing investor Sofina joined the series B extension. Which the current series B participants EQT Ventures and Prosus Ventures added to the roubd.

The history of Dott Micromobility:

Founed October 2018 As of Jan 2022 in 36 cities in 9 countries across Europe.

Dott added 10,000 e-bikes to its fleet of over 40,000 e-scooters in the winter of 2021. With a %140 increase in rides in 2021 across the fleet.

We have talked about how Micromobility is the future of car companies as shown by the French ad requirements for cars......

Expect to see a lot more Dott ebikes and escooters in the UK as Dott starts to compete with Voi and Lime.

With Dott being different from the others as having an entirely in house operation. Unlike Lime and others who outsource their battery and fleet manangement. Here is our visit to Dott's London operations.

Here are some of the stakeholders on Dott's lastest round:

Henri Moissinac, Co-Founder and CEO, Dott micromobility said: “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, said: “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, said: “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.”