VOI Technology, a Scandinavian green mobility company offering electric scooter sharing in partnership with cities and local communities, recently announced that it has raised $85m from existing and new investors. The funding will help the company in its mission of building a profitable micro-mobility business that transforms the future of urban transport.
The e-scooter operator aims to use the funding to continue building a profitable business in existing and new cities where it operates. Moreover, the capital will enable greater investment in R&D of VOI’s in-house developed technology platform and next-generation vehicle lineup. The funding will also accelerate expansion of the micro-mobility company’s product portfolio, allowing it to further monetise and strengthen its business operations.
Fredrik Hjelm, CEO and co-founder of VOI, said: “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.”
Since its launch in September 2018, VOI has evolved from a startup to a visionary transport operator whose micro-mobility products are shaping cities in Europe. The company is known for its collaborative approach to regulation, safety and sustainability, which sees it work closely with city authorities, other transport operators and policy makers to build a long-term vision to integrate e-scooters into transport networks across Europe.
Since its inception in 2018 VOI has expanded from its Stockholm base to operating in 38 cities across 10 European countries. Following launches in among others, Berlin, Munich, Hamburg, Helsinki, Oslo, Nuremburg, Düsseldorf, Marseille, Bordeaux, Odense, Tampere, Turku and Winterthur this year, VOI has achieved 4 million registered users, who have taken over 14 million rides.
VOI believes e-scooters can play a central role in changing how people move in our cities in the future and wants to make sure that the transformation happens through real innovative technology, open and transparent dialogue with cities and Governments, and by adapting product to local needs.
Source: Press Release
