Voi raises $85M Series B to put e-scooters at the heart of urban transportation in Europe

Europe’s leading home-grown e-scooter operator has raised $85M to continue building a profitable micro-mobility business and transforms the future of urban transport.

The Series B round was led by Vostok New Ventures with participation from Balderton Capital and Creandum, among others. 

VOI has now raised $135m in total since 2018 and has over 4 million users who have taken more than 14 million rides

VOI has already reached profitability in several cities. It will use the funding to continue building their presence in existing and new cities. In addition, the capital will enable greater investment in R&D of VOI’s in-house developed technology platform and vehicle lineup, leading to better customer experience, unit economics, operations and sustainability performance.

The funds will also accelerate the expansion of the company’s product portfolio.

VOI's scooters can now be found in 38 cities across 10 European countries.

There’s been a huge demand for VOI’s e-scooters from residents across Europe in the last 12 months but making a landmark change to transport in Europe takes more than simply flooding cities with thousands of scooters. We are developing a long-term business that gives people a new way of moving around cities that’s clean, fast, convenient and also fun. We have seen the strongest unit economics of all of our peers and will continue to optimize and invest in that.

Fredrik Hjelm, CEO and co-founder of VOI

Since 2018, VOI has expanded from its Stockholm base to operating in 38 cities across 10 European countries.  

VOI takes a unique collaborative approach to regulation, safety and sustainability, which sees it work closely with city authorities, other transport operators and policymakers to build a long-term vision to integrate e-scooters into transport networks across Europe. It has secured more licences to operate from cities than any other operator, including several exclusive licenses.

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