Voi raises $45 million in Series C extension round to invest in building a sustainable micro-mobility company


· Voi extension funding round brings total Series C funding to $205M.
· The new funding was led by The Raine Group and existing investors including VNV Global participated alongside new reputable investors.
· Voi is now the largest micro-mobility operator in Europe with both the most number of rides and the most scooter licenses of all operators.
· Voi will use the funding to continue to invest in its e-scooter fleet, R&D in parking and safety solutions, and rolling out e-bikes across more locations.

Stockholm, 06 August 2021 – Voi, Europe’s leading micro-mobility company, has raised $45 million in a Series C extension round led by The Raine Group. The funding will help Voi invest in building a sustainable company that will continue to revolutionise urban mobility over the coming decade.

This brings the total Series C funding raised by Voi to $205M.

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

To capitalize on this operating performance as well as the accelerated adoption of micro-mobility in cities across Europe, Voi is set to continue to invest in this burgeoning industry. 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.

Fredrik Hjelm, co-founder and CEO of Voi, said: “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. 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.”

Contact:

Kristina Hunter Nilsson 
VP Communications 
Voi Technology, Sveavägen 25, 111 34 Stockholm

[email protected]

About Voi

Voi is a Swedish micro-mobility company offering electric scooter sharing in partnership with cities and local communities. We believe e-scooters can play a central role in changing how people move in our cities in the future. And we want to make sure that the transformation happens the right way — through real innovative technology, open and transparent dialogue with cities and governments, and by adapting our products to local needs. Jump on a scooter whenever and ride wherever in the city in just minutes — completely carbon-neutral. Voi has been a carbon-neutral company since January 2020 and has adopted the United Nations’ Sustainable Development Goals (SDGs) as a guiding framework and has set a clear agenda for reducing and offsetting emissions.