E-scooter startup Dott raises $85 million for further expansion

A newly founded micro-mobility Dutch and French start-up, has raised $85 million in a Series B funding round. The fresh Series B was led by Belgium-based Sofina and the strategic growth capital provider from UK Estari Group. EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, Quadia and a mix of angel investors also participated in the round.

Dott offers dockless, shared electrical scooters and bikes as convenient alternatives for short-distance travel. Dott’s mission is to also operate as eco-friendly as it can possibly be keeping those nasty CO2 emissions at low levels, recycling from the scooter’s batteries to whole trucks.

Dott also said in a press release that the round is a mix of equity and asset-backed debt-financing which brings the total amount raised by Dott close to 120 million. Competitors like Tier and Voi have secured $388 million and $350 million respectively and have double the active scooters on the streets. In fact TIER with more than 60,000 in more than 95 cities and Dott’s at 30,000 scooters in 17 cities having the top market share in most of those.

Among the cities the company operates are Paris and Lyon while also having been established in Italy, Belgium, Germany and Poland. Dott plans on using the funding to also expand in other countries like Spain and UK, with its slow expansion keeping also its positive EBIT in many of the cities it operates.

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