European micro mobility start up dott grabs $ 70 million
- ByStartupStory | February 1, 2022
Urban mobility start up dott has risen an elongation to its Series B round.
Primarily, proclaimed in the spring of 2021, the company raised an $ 85 million Series B round — it was mix of equity and asset- hindered debt financing.
And today, the company is adding another $ 70 million to this round — it’s a combination of mix of equity and debt.
Dott is a European micro mobility start up that is better known for it’s scooter- sharing service.
Lately, the company has contributed an electric bike- sharing service in some cities.
Abrdn is leading the Series B extension with Dott’s subsisting investor’s sofina.
Other existing investor Sofina. Other subsisting investors pay more money on the table, such as EQT ventures and prosus ventures.
Dott competes with numerous micro mobility start ups in Europe. It’s most lucid rivals are Tier, lime and Voi.
There are quite similar when it comes to pricing and scooters — most of them work with Okai to devise their scooters, although, they don’t inescapably to conduct in the same markets.
Recently, dott covers 36 cities across nine European countries.
The company administrators 40,000 scooters and 10,000 bikes.
While dott isn’t partaking revenue numbers, the start up refined 130% more trips in 2021 in comparison to 2020.
Two other distinguishing agents between micro mobility operatiors are logistics and regulation.
When it comes to logistics, Dott tries to internalize its processes as much as possible.
It doesn’t work with the third- party logistics providers and it has it’s own ware houses and repair teams to considerate his armada.
When it comes to regulation, the company has won several allows to work in highly craved markets such as Paris, and London.
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