Sequoia Capital and Fidelity Management led a $711 million investment in Bolt, a delivery and mobility company.
Bolt’s valuation has risen to $8.4 billion as a result of the new round. This is the largest round of fundraising in Bolt’s history.
This round of funding will aid Bolt in furthering its aim of assisting cities in transforming urban areas into sustainable, people-friendly locations, as well as assisting individuals in moving around in a safe, affordable, and convenient manner.
“Around decades, cities have been planned for private automobiles, rather than the people who live and work in them,” said Markus Villig, Bolt’s creator and CEO. This strategy is outmoded in our opinion, which is why our objective is to build cities for people, not vehicles.
“For practically every purpose a private car serves, we’ve developed products that offer better and more inexpensive alternatives. We’re dedicated to partnering with communities to assist people to transition to shared mobility alternatives like ride-hailing and light automobiles, so that cities may become more sustainable and people-friendly.”
The money will also be used to expand and strengthen the company’s whole suite of mobility and delivery solutions, which are presently utilized by over 100 million people in 45 countries and 400 cities across Europe and Africa.
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