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Voi, Swedish micromobility company pulls in huge funding of £142M to cement its position in UK & Europe

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Voi, Swedish micromobility firm pulls in large funding of £142M to cement its place in UK & Europe

A few weeks after saying its partnership with Onfido, Voi Expertise, the e-scooter operator raised $160 million (approx £119 million) in new funding led by The Raine Group. 

Present buyers together with, VNV International, Balderton, Creandum, Challenge A, Inbox, and Stena Sessan, additionally participated within the spherical and had been joined by high entrepreneurs and executives from Supply Hero, Klarna, iZettle, Zillow, Kry/Livi, and Amazon.

The Collection C funds take whole funding of Voi during the last 4 months to $190 million (approx £142 million) together with the $30 million (approx £22 million) introduced in July and accomplished in September.

How will the funding be used?

As per the corporate, the funding might be used to put money into know-how platform improvement, gas progress in present Voi markets and convey the newest e-scooter mannequin – Voiager 4 – to extra cities throughout its community. Moreover, the corporate might be utilizing its funding to reinforce the security infrastructure of its platform. 

Voi within the UK

Voi has develop into Europe’s most popular operator, profitable over 2/3 of metropolis license tenders, together with current wins in Birmingham, Liverpool, Bern, and Cambridge. It additionally leads in fleet effectivity throughout energetic markets, together with high micro-mobility markets like Berlin, Oslo, and Stockholm.

Richard Corbett, Regional Basic Supervisor of UK, Eire, and Benelux for Voi, stated: “Over current months, Voi has constructed a powerful UK crew to ship in opposition to its bold plans to develop into the primary operator within the UK. In consequence, the corporate has efficiently received 16 metropolis licenses, together with the world’s largest unique working license within the West Midlands, to develop into the UK’s largest e-scooter operator.” 

Delivered near 250,000 rides within the UK

Since its first launch in September, Voi has grown to 6 cities throughout the UK and delivered near 250,000 secure rides with a mixed whole distance of 300,000 miles travelled, changing on common 14% of the automobile journeys. Proper now, Voi is energetic in markets together with Northampton, Birmingham, Liverpool, Cambridge, Bathtub, and Bristol. 

Richard Corbett provides, “Following a profitable launch part, in cooperation with every metropolis and native companions, we at the moment are implementing a managed growth of our fleet of scooters and working areas and we goal to succeed in 4,000 autos by the top of the yr. Our ‘Voi 4 Heroes’ move, providing NHS staff free rides all through the lockdown, had over 1,000 sign-ups to the programme in its first week, enabling 1000’s of NHS employees and key emergency staff to make use of our providers to maneuver safely round city throughout England’s lockdown. Because the chief within the UK market, we’ll proceed to work collaboratively with native authorities within the cities the place we’re current, supporting their native transport objectives, while contributing to a optimistic transformation of our cities by serving to to scale back the variety of automobiles on our roads and lower carbon emissions.”

Develops {hardware} and software program

As Voi adapts and develops {hardware} and software program, riders profit from helmet know-how, higher lights, improved location accuracy, and high-quality brakes, signalling, and suspension, serving to guarantee customers get to their locations safely.

Fredrik Hjelm, co-founder, and CEO of Voi stated: “We’re very comfortable to welcome Raine’s progress fairness platform to the Voi household. They’re the robust companions we had been searching for and impressed us by means of their deep information of the business, their years of labor throughout the worldwide mobility sector, and their current deep dive into the evolving aggressive panorama in Europe. We share the identical imaginative and prescient that cities needs to be nice locations to stay, work, and journey in – the place transport doesn’t pollute the air or lower individuals off from their atmosphere. We and our metropolis companions totally intend to realize our goal of Imaginative and prescient Zero – e-scooters that generate zero-carbon, zero accidents, and 0 causes to not embrace the way forward for transport.”

“By means of a mixture of superior e-scooter know-how, elevated rider adoption, and higher operational practices, Voi is producing considerably extra rides per energetic scooter than ever earlier than. In the meantime, by introducing swappable batteries, integrating extra sustainable fleet administration infrastructure, and switching to renewable vitality to energy our operations wherever potential, now we have decreased the already minimal environmental impression of e-scooters even additional. This funding will assist us proceed to supply an environment friendly and sustainable e-scooter service whereas offering individuals with the mobility they will depend on.”

Jason Schretter, Associate and Head of EMEA at The Raine Group, stated: “Shoppers and native governments throughout Europe are recognizing a novel window of alternative to leverage the current interval of transportation disruption to transform and enhance metropolis mobility. Years of evolution have taken place in simply six months, and we’re totally assured that we’re solely initially of this pattern. In Voi, we’re backing a crew that, based mostly on its current license wins throughout Europe’s high cities, clearly understands that the following technology of micro-mobility would require operators and native governments to companion to ship consumer-friendly, environmentally environment friendly merchandise, and providers. We’re excited to make this funding in Voi and its robust and purpose-driven tradition, and we are able to’t wait to work with them on the journey forward.”

Per Brilioth, CEO of VNV International, stated: “VNV International has invested in Voi since 2018 and continues to be impressed by the velocity at which the crew is iterating and enhancing on product and operations. We expect Voi would be the winner on this multi-billion greenback business and contemplate ourselves totally a part of the crew. We’ve received probably the most contracts with cities, we’re profitable in opposition to the competitors in just about all markets and, with this financing spherical, now we have the capital to ship on our progress imaginative and prescient. 2021 might be an thrilling yr.”

Partnership with Luna

Final month, Voi introduced one other partnership with Irish micro-mobility startup Luna to offer world-first pc imaginative and prescient for e-scooters. With AI and pc imaginative and prescient know-how integration, Voi turns into the primary scooter operator on the planet to supply real-time pedestrian detection, much like that obtainable in high-end automobiles.

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