Urban mobility startup Dott has raised an extension to its Series B round.
Originally announced in the spring of 2021, the company raised an $85 million Series B round, it was a mix of equity and asset-backed debt financing.
And today, the company is adding another $70 million to this round once again, it’s a mix of equity and debt.
Dott is a European micromobility startup that is better known for its scooter-sharing service. More recently, the company added an electric bike-sharing service in some cities.
Abrdn is leading the Series B extension with Dott’s existing investor Sofina.
Other existing investors put more money on the table, such as EQT Ventures and Prosus Ventures.
Dott competes with several micromobility startups in Europe. Its most direct competitors are Tier, Lime and Voi.
They are quite similar when it comes to pricing and scooters — most of them work with Okai to design their scooters — but they don’t necessarily operate in the same markets.
Right now, Dott covers 36 cities across nine European countries. The company manages 40,000 scooters and 10,000 bikes.
While Dott isn’t sharing revenue numbers, the startup processed 130% more trips in 2021 compared to 2020.