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Estonia’s Bolt has closed a €600M funding round, increasing the shared mobility’s group’s valuation to more than €4B. The funds will be used to boost its new grocery delivery service, Bolt Market, and accelerate the expansion of existing mobility and delivery products.

The funds were raised from a range of investors including Sequoia, Tekne, and Ghisallo, G Squared, D1 Capital, and Naya.

In addition to its core ride-hailing product, Bolt offers a car-sharing service, Bolt Drive, and scooter and e-bike sharing.

Its delivery services include Bolt Food, which enables customers to order meals from restaurants, and the most recent addition to Bolt’s ecosystem is a grocery delivery service, Bolt Market.

Bolt Market will be launched in 10 European countries in 2021, including the Baltics and Central Europe, Sweden, Portugal, Croatia, and Romania.

Markus Villig, CEO at Bolt, says: “Bolt’s mission is to make urban travel affordable and sustainable. We are building a future where people are not forced to buy cars that cause traffic and pollution, but use on-demand transport when they need it.” 

He adds: “After seven years of relentless execution, Bolt’s mobility and delivery products offer a better alternative to almost every use case a car serves. I’m thrilled to bring these products to millions of customers around Europe and Africa, taking the emphasis off cars and giving cities back to the people.”

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Founded by Markus Villig in 2013, Bolt has more than 50 million customers in over 40 countries.

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