Dott, the European micromobility company, has secured $85 million through its Series B funding round led by Sofina, a Belgium-based investment company listed on Euronext Brussels 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.
The $85m investment will be used to enhance the service for users, go multimodal, expand to new cities and countries and raise industry standards on sustainability.
“We’ve shown in the first two years that we can offer a great service for users, good for the planet and good for European cities.” said 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”.
“We are confident about our future partnership with Dott. We were impressed by the management and look forward to helping the company shaping the future of urban transportation, in a context where it is clear that conventional urban mobility cannot be sustained” said Harold Boël, CEO, Sofina.
“When we first partnered with Dott in 2018, we recognized the team was building a sustainable, long-term business that stood out amongst others in Europe and we are excited to continue with them on their journey,” said Martin Tschopp, CEO, Prosus Ventures. “Through incorporating top-notch safety and usability features on their e-scooters and e-bikes, offering first-to-market benefits to riders, and working collaboratively with local governments to ensure their solutions work seamlessly within the communities where they operate, Dott has become a true leader in the micro-mobility sector in Europe.”