McRock ups its investment in European micro-mobility company
It appears there is no stopping Dott–the leading IoT-enabled European e-scooter and e-bike rental company that we’re proud to have in our portfolio. Today the company announces a $70m extension to its Series B funding round. This brings the total Series B funding raised to more than $150m in a mix of equity and asset-backed debt, including the $85m announced in the Spring of 2021. We participated in the initial Series B investment and have now increased our investment with the extra funding to help sustain their rapid growth.
CEO Henri Moissinac is on a crusade against personal cars. He wants to make it super simple for anyone who wants to ditch their own car to have other transportation modes. Clearly he’s on to something, as Dott already covers 36 cities across nine European countries. Dott manages 40,000 scooters and 10,000 bikes, and the demand for micro-mobility use is growing–the startup processed 130 percent more trips in 2021 compared to 2020.
The new investment enables Dott to accelerate the rollout of its new e-bikes, invest in product development to improve the user experience and expand into even more cities and countries. The company is targeting further expansion in France, Scandinavia, the Netherlands and possibly Israel. Moissinac sees a world with environmentally friendly transportation available to everyone, and we’re happy to be along for this ride.