Dott Raises $85M for European E-Scooter Expansion | Micromobility

Dott Secures $85 Million in Series B Funding

Dott, a micromobility provider, has successfully completed a new $85 million Series B funding round. This financing incorporates both equity and asset-backed debt.

Sofina, a Belgium-based investment firm, spearheaded the investment in this round.

Company Overview

Dott is recognized for its fleet of vibrantly colored electric scooters, readily available for use in numerous European urban centers.

Currently, the company manages a fleet of 30,000 electric scooters across five nations.

Operational Model

Users access Dott’s services via a dedicated mobile application, enabling scooter unlocking and usage.

The service structure includes both an initial unlocking charge and a per-minute usage fee.

Strategic Differentiation

From its inception, Dott has focused on operational efficiency and sustainability within the e-scooter market.

Compared to competitors like Bird and Lime, Dott has secured funding with a more conservative approach.

In-House Logistics and Sustainability

Dott maintains its own facilities for scooter charging and repair, eschewing reliance on external logistics companies.

The company directly employs a dedicated team for all logistical operations.

A core tenet of Dott’s strategy is maximizing scooter lifespan through repair, reuse, and recycling initiatives.

Utilizing swappable batteries and electric vehicle fleets, the company actively minimizes its carbon footprint in operational cities.

Market Position and Expansion

This commitment to sustainability has resulted in successful permit acquisitions in cities like Paris and Lyon, following competitive bidding processes.

Dott currently operates in a dozen cities spanning France, Italy, Belgium, Germany, and Poland.

Tier, a fellow European micromobility company, has pursued a more rapid expansion strategy, securing $250 million in funding in November 2020.

Investor Base

In addition to Sofina, the funding round included participation from both new and existing investors.

These include EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Estari, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, and Quadia.

Future Plans

The newly acquired funding will facilitate Dott’s expansion into bike-sharing services, complementing its existing scooter offerings.

Images of the company’s forthcoming e-bike have already been released, with a launch anticipated this summer.

Geographic expansion is also planned, beginning with Spain and the United Kingdom.

Dott is adopting a measured rollout strategy, prioritizing sustainable growth over rapid, widespread deployment.

The company currently maintains Earnings Before Interest and Taxes (EBIT) positivity across all operating cities, a position it intends to preserve.