01
February
2022
|
15:40
Europe/Amsterdam

Dott adds $70m to its Series B funding round

Dott, a leading European micro-mobility company, today announces a $70m extension to its Series B funding round. This brings the total Series B funding raised to over $150m in a mix of equity and asset-backed debt, including the $85m 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 9 countries across Europe. At the end of 2021, Dott 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% more trips than in 2020.

As micro-mobility use continues to grow across Europe, the new investment enables Dott to accelerate the rollout of its new e-bikes, invest in product development to improve the user experience and expand into new cities and countries.

The additional backing demonstrates investor support for Dott’s unique approach to micro-mobility. Pioneering a model using entirely in-house operations, Dott has greater control over the quality of its logistics and vehicle maintenance, resulting in a safer and more reliable service for its users.

Dott prioritises the safety of its riders, other road users and pedestrians, collaborating closely with the cities it operates in to offer a service adapted to the needs of each city. Consistently measuring and reducing its impact on the environment, Dott offers the most efficient way to get around whilst reducing pollution and congestion in cities.

Henri Moissinac, Co-Founder and CEO, Dott, said: “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. 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.”

Alistair Watson, Head of Strategy Innovation, Private Equity, abrdn, said: “Environmental, social and governance considerations are at the heart of our process as we seek the most sustainable investment opportunities globally. We felt that Dott is well-positioned to be a leader in the category, offering a high-quality product that has been recognised with significant growth in 2021, alongside a responsible business model which takes a rigorous approach to minimise its carbon footprint.”

Harold Boël, Chief Executive Officer, Sofina, said: “Consumers need convenient and clean alternatives to move around cities, and European cities are evolving to encourage these alternatives. As people change their habits and cities adapt their mobility strategy, we at Sofina are convinced that Dott is well-positioned to enable sustainable mobility with its fleet of shared clean vehicles, responsibly integrated into cities.  Supporting Dott’s expansion is fully aligned with our intent to contribute to a more sustainable future.”

-ENDS-

About Dott

Dott is a micromobility European operator founded by Henri Moissinac and Maxim Romain, with the mission to free our cities with clean rides for everyone. Dott currently operates over 40,000 e-scooters in top cities in Belgium, Finland, France, Germany, Italy, Norway, Poland, Spain, the UK and has been launching a fleet of 10,000 e-bikes since Autumn 2021. Dott has won two of the biggest micromobility tenders in the world, in both Paris and in London. Dott has a staff of over 500, with its main teams located in Amsterdam, London and Paris.

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About Prosus:

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, billions of customers use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos,  Airmeet, Aruna, AutoTrader, Autovit.ro, Azos, BandLab, Bibit, Biome Makers, Borneo, Brainly, BUX, BYJU'S, Bykea, Captain Fresh, Codecademy, Collective Benefits, Creditas, DappRadar, DeHaat, Detect Technologies, Domofond.ru, dott, EduMe, ElasticRun, eMAG, Endowus, Eruditus, EVERY, Facily, Flink, Foodics, Good Glamm Group, GoodHabitz, GoStudent, Honor, iFood, Imovirtual, Klar, Kovi, LazyPay, letgo, Luno, Mensa Brands, Meesho, merXu, Movile, Oda, OLX, Otodom, OTOMOTO, PaySense, PayU, Pharmeasy, Platzi, Property24, Quick Ride, Red Dot Payment, Republic, Sharebite, Shipper, ShopUp, SoloLearn, Stack Overflow, Standvirtual, Superside, Swiggy, Thndr, Tonik, Ula, Urban Company, Vegrow, watchTowr, Wayflyer, and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, Delivery Hero, Remitly, Trip.com, Udemy, Skillsoft, Sinch, and SimilarWeb.

Today, Prosus companies and associates help improve the lives of more than two billion people around the world.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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