Swedish e-scooter brand Voi raises £121m for expansion in UK, Europe

Posted on December 2, 2020 by Alistair Hardaker

Voi

Voi

Swedish e-scooter company Voi has raised £121m ($160m) in new funding led by The Raine Group.

Existing investors, including VNV Global, Balderton, Creandum, Project A, Inbox and Stena Sessan, also participated in the round and were joined by top entrepreneurs and executives from Delivery Hero, Klarna, iZettle, Zillow, Kry/Livi and Amazon.

The Series C funds take total funding of Voi over the last four months to $190m (£143.7m), including the $30m announced in July and completed in September.

The company reports it has won 2/3rds of city license tenders in Europe, including recent wins in Birmingham, Liverpool, Bern and Cambridge.

The new capital will be invested in technology platform development, will fuel growth in current Voi markets and bring Voi’s latest e-scooter model, the Voiager 4, to more cities across its network.

In addition the company said it will use funds to further enhance the safety infrastructure of its platform.

Fredrik Hjelm, co-founder and CEO of Voi, said: “This funding will help us continue to offer an efficient and sustainable e-scooter service, while providing people with mobility they can rely on.”

Jason Schretter, Partner and Head of EMEA at The Raine Group, added: “In Voi, we are backing a team who, based on its recent license wins across Europe’s top cities, clearly understands that the next generation of micro-mobility will require operators and local governments to partner to deliver consumer-friendly, environmentally efficient products and services. ”

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