Dott raises $85m in its Series B

20 April 2021 – Amsterdam. Dott, the European micromobility company, announces today the signing of an $85 million Series B funding round led by Sofina, a Belgium-based investment company listed on Euronext Brussels (ISIN BE0003717312) and a supportive partner of entrepreneurs and families managing growing companies, and co-led by Estari, a growth equity investor in European sustainability technology leaders.

New and existing investors including EQT Ventures, Prosus Ventures, Aberdeen Standard Investments, Expon Capital, Felix Capital, FJ Labs, Invest-NL, McRock Capital, Quadia in partnership with Degroof Petercam and various angel investors are participating in the round. The investment comprises a mix of equity and asset-backed debt financing.

Codify Partners acted as financial and strategic advisor to Dott and Henri Moissinac, Dott's CEO in this Series B funding round.

Since its creation in October 2018, Dott has grown to be one of the leading players in Europe, with a live fleet of more than 30,000 e-scooters in 5 countries. This Series B investment is testament to Dott’s differentiated strategy:

• Capital efficient & profitable growth: With a fraction of the capital raised by peers, Dott has built large, dominant and profitable strongholds in highly prized micromobility markets in Europe.

• Operational excellence: All operations have been managed 100% in-house since day one. Behind the scenes, the Dott Operating System brings increased safety, stronger reliability for the city, a much better overall user experience and industry leading unit economics (EBIT positive across all cities, even during Covid lockdowns).

• Sustainability focus: Core to Dott’s strategy is delivering a truly sustainable service to its users, cities and the planet. By reducing its carbon footprint across the entire lifecycle of vehicles – from the supply chain (using the most durable hardware) to street operations (swappable batteries, renewable energy, electric fleet for logistics) to end-of-life processes (“repair, reuse, recycle”) – the company has driven a 56% reduction in CO2 emissions over the past 12 months.

• Lasting & collaborative partnerships with cities: Dott is a trusted operator in each city the company operates. As a proof point, Dott was selected first in the Paris and Lyon license tenders, two of the largest and most complex cities to operate in Europe.