E-scooter startup Voi Technology raises $115 million in Series D funding

E-scooter startup Voi Know-how raises $115 million in Sequence D funding

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Stockholm-based Voi has raised a whole of $430 million since its inception in 2018.

Swedish e-scooter startup Voi Know-how raised $115 million in a Sequence D spherical, bringing the general raised this yr to $160 million.

Already working in extra than 70 cities in 11 worldwide places, the company is one amongst many micromobility companies searching for to broaden into the Irish market as quickly because the federal authorities formally legalizes e-scooters.

In 2021, Voi achieved 140pc year-over-year revenue progress and the startup has now raised a whole of $430 million since its inception three years up to now.

The newest over-raised funding spherical was led by The Raine Group and VNV World. New merchants included Ilmarinen, Nineyards Equity and ICT Capital, whereas present merchants Inbox Capital, NordicNinja, Stena Sessan and Creos Capital (Kreos Capital) is joined by entrepreneurs and operators from King, Avito and Boston Consulting Group.

The funding will allow Voi to proceed rising into quite a few markets and together with additional e-bikes to the auto over the next few years.

The company objectives to dramatically in the reduction of the number of car journeys by offering micro-mobility suppliers as an alternative. We’re already procuring e-bikes in Europe and we hope to accumulate e-scooters regionally as shortly as doable. Voi plans to utilize solely battery cells made in Europe, with the target of halving its carbon footprint by 2023.

“There is not a doubt that micromobility will stay on,” said CEO Fredrik Hjelm, “and Voi will develop to be Europe’s mobility platform in the hunt for to provide an built-in wise mode for residents and visitors”.

“Working intently with cities, we’re seeing a model new imaginative and prescient of metropolis transport that is extraordinarily complementary to public transport.”

Raine Group companion and EMEA head Jason Schretter said the company has expanded its administration place throughout the space since his agency first invested in Voi over a yr up to now. “We welcome features from new and returning merchants on this spherical to help advance Voi’s efforts to companion with cities to make the continent greener.”

Per Brilioth, CEO of VNV World, added: We’re reaching a turning stage in micromobility, the place resident-led cities unlock the whole potential of this new mode of transportation.”

Headquartered in Stockholm, Voi employs spherical 1,000 of us. The startup has been eyeing the Irish market since 2019, when it raised $85 million in a Sequence B funding spherical.

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