Dott announces $85 million Series B led by Sofina
Investment Announcement
20 April 2021– Dott, the European micromobility company, announces today the signing of an $85 million Series B funding round led by Sofina, a Belgium-based investment company, and co-led by Estari, a growth equity investor in European sustainability technology leaders.
New and existing investors including EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, Quadia in partnership with Degroof Petercam and various angel investors are participating in the round. The investment comprises a mix of equity and asset-backed debt financing.
Since its creation in October 2018, Dott has grown to be one of the leading players in Europe, with a live fleet of more than 30,000 e-scooters in 5 countries. This Series B investment is testament to Dott’s differentiated strategy:
- Capital efficient & profitable growth: With a fraction of the capital raised by peers, Dott has built large, dominant and profitable strongholds in highly prized micromobility markets in Europe.
- Operational excellence: All operations have been managed 100% in-house since day one. Behind the scenes, the Dott Operating System brings increased safety, stronger reliability for the city, a much better overall user experience and industry-leading unit economics (EBIT positive across all cities, even during Covid lockdowns).
- Sustainability focus: Core to Dott’s strategy is delivering a truly sustainable service to its users, cities and the planet. By reducing its carbon footprint across the entire lifecycle of vehicles – from the supply chain (using the most durable hardware) to street operations (swappable batteries, renewable energy, electric fleet for logistics) to end-of-life processes (“repair, reuse, recycle”) – the company has driven a 56% reduction in CO2 emissions over the past 12 months.
- Lasting & collaborative partnerships with cities: Dott is a trusted operator in each city the company operates. As a proof point, Dott was selected first in the Paris and Lyon license tenders, two of the largest and most complex cities to operate in Europe.
The $85m investment will be used to accelerate user service and extend operations.
“We’ve shown in the first two years that we can offer a great service for users, good for the planet and good for European cities,” said Henri Moissinac, CEO, and co-founder, Dott. “We think we have a winning formula now, combining operational excellence, hardware & software expertise, collaboration with city stakeholders and capital efficiency. Thanks to our new and existing investors, our aim is now to accelerate, serve more users and more cities, in the most reliable and affordable way possible.”
About Dott
Dott, headquartered in Amsterdam, The Netherlands, is a European micromobility operator founded by Henri Moissinac and Maxim Romain, with the mission to free our cities with clean rides for everyone. Dott currently operates over 30,000 e-scooters in top cities in Belgium, France, Germany, Italy and Poland.
About Sofina
Sofina is a family-owned investment company listed on Euronext Brussels, managing its own assets that represent ca. €8.9 billion. Sofina aspires to be the preferred partner of entrepreneurs and families who lead growing companies by backing them with patient capital and supportive advice.
About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world. It operates globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities.