July 7, 2022

PARIS: Voi Technology, a Series D fundraiser of $ 115 million

Voi Technology – Europe’s leading micromobility operator – has raised $ 115 million in an oversubscribed funding round that will allow Voi to continue expanding its mobility platform into new markets next year.

Both existing and new investors participated in this roundtable led by Raine Group and VNV Global, including Inbox Capital, Nordic Ninja, Stena Sessan, Kreos Capital and new investors Ilmarinen, Nineyards Equity and ICT Capital, among others. Prominent entrepreneurs and operators from King, Avito, BCG and others also participated in the fundraiser.

The roundtable concluded on the basis of Voi’s best ever year, in which the company outperformed its peers and saw strong and growing demand for micromobility.

Number one in Europe

Voi recorded 140% revenue growth in 2021, with more than 90 million trips since its inception, while increasing its margins and profitability. Voi has also won more tenders than any other operator in Europe, cementing its position as the most trusted micromobility partner across the continent with cities. Voi beat its peers to achieve company-wide operational profitability in the summer of 2020 and continued to improve its gross margins and the number of scooter rides as it expands into new markets in 2021 .

See in France

In more than two years of presence in France, Voi Technology has changed the way inhabitants move around the city by offering reliable, practical and secure mobility.

This year, the city of Marseille has renewed its confidence in Voi by selecting the operator again for the next 2 years, a great sign of confidence on the part of the municipality. Bordeaux is the other city in France where Voi makes its service available to residents. During 2021, Voi has already made more than 1.5 million trips and more than 3.2 million kilometers in the two cities, thus avoiding the expenditure of more than 59.6 tons of CO2 and 242,986 trips by private car. By working hand in hand with municipalities, Voi aims to radically reinvent urban mobility, in order to help create people-centered cities.

Greater demand for micromobility than ever

Voi’s achievements in 2021 took place in a context where the demand for micromobility is greater than ever. Cities are under pressure to transform modes of transport and reduce reliance on polluting private vehicles in order to meet their own net zero emissions targets. Electric scooters and bicycles, as well as other forms of micromobility are the best choice for cities that want to have a sustainable and shared vehicle that easily integrates with public transport, reduces dependence on private cars, reduces traffic jams and pollution.

Creating a new vision of urban transport for Europe

The new funding will allow further expansion into new European markets and add more e-bikes to Voi’s fleet. The company has set itself the ambition of removing one billion car trips from European roads by 2030 through expansion into new markets and through new solutions that will be essential to achieve this goal. Voi will also launch Europe’s safest electric scooter model yet – the Voiager 5 – in the spring as part of its commitment to achieve Vision Zero – no accidents.

Commitment to sustainability

All of this will be done as part of a total commitment to sustainability. Voi intends to offer fully electric operational vehicles by early 2023. Also by 2023, Voi will only use batteries produced in Europe, which will reduce the carbon footprint by 50%. The micromobility operator already buys its electric bikes in Europe and intends to buy its electric scooters locally, as soon as possible. Voi became the first micromobility company to operate carbon neutral in 2020, building on its track record of pioneering sustainability initiatives, including through the use of renewable energy and the introduction of batteries. interchangeable before its competitors.

Fredrik Hjelm, Co-Founder and CEO of Voi Technology, said: “ There is no doubt that micromobility is here to stay and Voi intends to be the benchmark mobility platform in Europe for cities that want to offer their residents and visitors an integrated and intelligent mode of travel. By working in close collaboration with the cities, we see the emergence of a new vision of urban transport, very complementary to public transport. We’re building the future of transportation and we’re committed to making every city where Voi operates a great place to live. “

Jason Schretter, Partner and Head of EMEA Region at Raine Group, said: “ We are delighted to continue to support Voi in its efforts to bring safe and sustainable micro-mobility solutions to European markets. Since our first investment a year ago, Voi’s commitment to product innovation, operational efficiency and local partnerships has enabled the company to extend its leadership position in the region. We welcome the support of new and old investors in this roundtable to help advance Voi’s efforts in partnering with cities and helping to make the continent greener. “

Per Brilioth, CEO of VNV Global, said: “Having invested in Voi since day one, we are delighted to see this three-year-old company establish itself as the first and most efficient micro-mobility operator in Europe. We are reaching a tipping point with micro mobility where cities, led by their inhabitants, are awakening to the full potential of this new mode of transport. Fully integrated into public transport, produced from sustainable sources and powered by renewable energies, Voi is far ahead of the competition as an adult operator-partner and responsible for cities. “

About Voi

Founded in 2018, Voi Technology is a Swedish urban mobility company offering the sharing of electric scooters in partnership with cities and local communities. We believe that electric scooters can play a central role in changing the way people move around our cities in the future. And we want to make sure the transformation happens in the right direction – through genuine innovative technology, open and transparent dialogue with cities and governments, and by tailoring our products to local needs. Hop on a scooter anytime and ride anywhere in town in 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 its guiding framework, and has also set a clear agenda to reduce and offset emissions.

Voi Technology operates in 70 cities across 11 countries. It is headquartered in Stockholm and employs around 700 people. To date, Voi has over 6 million users and has served 70 million trips.