Amsterdam-based e-bike startup just raised €20M funding to expand in Europe

Amsterdam-based e-bike startup just raised €20M funding to expand in Europe

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The e-scooter and e-bike companies are continuing to forge their way to numerous markets across the globe. Now, dott, a European scooter startup has recently raised €20 million in an early stage funding round led by the EQT Ventures fund and Naspers, with participation from Axel Springer Digital Ventures, DN Capital, Felix Capital, FJ Labs, U-Start Club and angel investors.

Based out Amsterdam, dott will be using this fund to launch their uniquely designed e-scooters and e-bikes in European cities. Founded by Henri Moissinac and Maxim Romain, dott aims to improve European city life by offering dockless, shared electrical scooters and bikes as convenient alternatives for short-distance travel. The startup has designed a scooter built to last and designed for sharing.

In addition to it, the dott scooters have a speed cap at 20km/h and a longer charging autonomy. Furthermore, it is 100% repairable as well with all parts replaceable when damaged. As per EU Startups, dott possesses a list of ten commitments the company will adhere to, such as “city approval first”, “safety by design”, “top-notch maintenance”, “green footprint” and “user privacy.”

Having said that, dott’s first e-scooters will be launched in a pilot at STATION F, around the first half of 2019.

Maxim Romain, CEO and co-founder of dott, said:

We believe we can significantly reduce the number of cars in cities if we make green vehicles like e-bikes and e-scooters an enjoyable and practical experience for city residents. This is why we focus on well-designed vehicles, safety, and sustainability – so we’re still operating in cities in 20 years. Our ‘locals with locals’ approach fully empower local teams to tailor their operations to the specific needs of each municipality.

Lars Jörnow, partner and investment advisor at EQT Ventures, said:

Due to environmental and congestion concerns, last mile transport in cities has to get smarter and it’s no surprise that eScooter adoption is rapidly increasing. The team was impressed by dott’s dedication to locals with locals approach and its mission to make micro-mobility more efficient and environmentally friendly. We look forward to working closely with Maxim and Henri over the coming years.

Martin Tschopp, COO, Naspers Ventures, said:

Naspers invests in companies that address big societal needs in markets where we see the greatest growth potential. This will be our first investment in mobility in Europe, a dense and ripe region for disruption, in short, inner city commuting. The dott team has experience in local mobility like no other team we have seen in Europe tackling micro-mobility.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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