French shared micromobility operator Dott announced a $70 million extension to its Series B funding round earlier this week.
The development brings the total Series B funding raised by Dott to over $150 million in a mix of equity and asset-backed debt, including the $85 million announced in the Spring of 2021.
The extended round was jointly led by new investor abrdn and existing investor Sofina. Other existing investors, including EQT Ventures and Prosus Ventures, also participated in the round.
Dott was created in October 2018 and has since grown its operations to cover 36 cities in nine countries across Europe.
At the end of 2021, the firm added 10,000 e-bikes to its fleet of over 40,000 e-scooters, broadening its offering and providing more choice to its riders, who took 130 per cent more trips than in 2020.
“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,” said Dott CEO Henri Moissinac.
“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.”