Voi Technology Closes $30M Funding Round

voiVoi Technology, a Stockholm, Sweden-based smart mobility startup, closed a $30m funding round.

Backers included Vostok New Ventures, Balderton Capital, LocalGlobe and Raine Ventures, Project A and Creandum and angel investors including Cristina Stenbeck (Kinnevik), Justin Mateen (co-founder of Tinder), Nicolas Brusson (CEO and co-founder of BlaBlaCar), Christian Leone (founder of Luxor Capital) and Spencer Rascoff (ex-CEO of Zillow).

The company intends to use the funds to ramp up expansion into new cities in Italy, Germany, Norway, and France and invest in R&D, , including the development of new vehicles, and further enhance its products and team.

Launched in August 2018 by Fredrik Hjelm, Douglas Stark, Adam Jafer and Filip Lindvall, Voi works collaboratively with city authorities across the continent to provide an electric scooter service. Riders can use Voi scooters by downloading the app (in participating cities) to locate a nearby scooter on the street or by using a map, pressing the ‘ride’ button, and scanning the Voi QR code. There’s a €1 unlocking fee and a ride costs €0.15 per minute.

To date, the company has built up over 400,000 riders, who have taken a total of more than 750,000 rides and cumulatively traveled over a million-and-a-half kilometres.

It is present in Stockholm, Gothenburg, Malmö, Lund, Uppsala, Copenhagen, Paris, Lyon, Madrid, Malaga, Zaragoza, Murcia, Lisbon, Oslo, and Faro.



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