- Voi has received $160 Million in Funding
- The funding was led by over 12 investors
- Funds raised will be used to invest in technology platform development
Voi, Europe’s leading micro-mobility company, has raised $160 million in new funding led by The Raine Group, helping the company cement its leadership within Europe’s rapidly evolving micro-mobility transportation sector.
World-class investors, including VNV Global, Balderton, Creandum, Project A, Inbox, Nordic Ninja, and sustainability-focused investors, including Stena Sessan, also participated in the round and were joined by top entrepreneurs and executives to global companies, including Delivery Hero, Klarna, iZettle, Zillow, Kry/Livi and Amazon.
In connection to the funding, Voi has secured the industry’s first asset-backed debt facility at scale, which will be directed towards scooters and e-bikes in 2021.
Landmark Year for E-Scooters
The last 12 months have been a landmark year for e-scooters, as consumers look for new alternatives to move around Europe’s biggest cities in a convenient, sustainable, quick, and safe way.
With major new markets, including the UK, opening up to e-scooter mobility solutions, Voi has become Europe’s preferred operator, winning over 2/3 of city license tenders across Europe, including recent wins in Birmingham, Liverpool, Bern, and Cambridge
Also then leading in fleet efficiency across active markets, including top European micro-mobility markets like Berlin, Oslo, and Stockholm.
How will funds be utilised?
Funds raised will be used to invest in technology platform development, fuel growth in current Voi markets. They also aim at bringing Voi’s latest e-scooter model – Voiager 4 – to more cities across its network.
In addition, Voi will use funds to further enhance the safety infrastructure of its platform the company’s number one priority. As Voi adapts and develops their hardware and software. Riders benefit from helmet technology, better lights, improved location accuracy. Additional features include high-quality brakes, signaling, and suspension, ensuring the user’s safety.
The Series C funds take total funding of Voi over the last four months to $190 million. This includes the $30m announced in July and completed in September.
Voi’s fundraising has closed and is not subject to closing conditions.