Voi raises $45M to invest in building a sustainable micro-mobility company

AUG 06, 2021

The Series C extension was led by The Raine Group and brings Voi's total Series C funding to $205M.

Over the past eight months, Voi has become the largest micro-mobility operator in Europe.

Voi has emerged as the clear micromobility leader in the European market, a fact which is underlined by the confidence of our investors. We’ve proven that there is demand for sustainable, carbon-free transport across the continent and we’re delighted to be driving this switch from polluting cars in 70 cities.

Fredrik Hjelm, co-founder and CEO of Voi

As Covid-19 lockdowns have eased, e-scooters have been more in demand than ever with a 70% increase year on year as people chose them as a socially-distanced, carbon-free way to travel around urban areas. Voi has been well-placed to facilitate this step-change in transport.

The Swedish-based company is the number one for market share - winning more than 40% of the licensed markets in Europe, more than twice its closest competitor.

Voi is also the number one for fleet efficiency with 40% more rides per vehicle than rivals; and the number one European player with 2 million rides per week.

Fredrik Hjelm

We’re now the biggest e-scooter operator achieving more than 2 million rides a week, and we’re trusted by more cities and regulators than any other operator. With this new investment, we will continue to invest in developing our e-scooter and e-bike fleets, pioneering innovative approaches to parking and safety, and advocate for change to help create more liveable cities across the world.

Fredrik Hjelm, co-founder and CEO of Voi

The new funding will allow Voi to continue investing in its e-scooter fleet, R&D in parking and safety solutions including pioneering the use of computer vision software to prevent pavement riding, and expanding its e-scooters and e-bikes offer to more markets.

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