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dott announces a €20 million round from EQT Ventures and Naspers Ventures to transform city mobility in Europe

dott announces a €20 million round from EQT Ventures and Naspers Ventures to transform city mobility in Europe dott announces a €20 million round from EQT Ventures and Naspers Ventures to transform city mobility in Europe
 
  • Most experienced team in mobility and tech in Europe
  • Unique eScooters and eBikes specifically designed for durability, safety and rider comfort
  • Transparent, collaborative approach, with 10 commitments to cities and citizens
  • Launching early 2019 with initial eScooters pilot at STATION F in Paris
 
Amsterdam, Netherlands – 14 December, 2018dott (www.ridedott.com), the European micro-mobility company, announces today a €20 million early stage funding round. The investment has been co-led by the EQT Ventures fund (“EQT Ventures”), a leading European multistage VC fund with commitments of just over €566 million, and Naspers, a global internet and entertainment group and one of the largest technology investors in the world, through its Naspers Ventures division. Other investors include Axel Springer Digital Ventures, DN Capital, Felix Capital, FJ Labs, U-Start Club and angel investors. The investment will be used to finance the launch of dott’s uniquely designed eScooters and eBikes across European cities.
 
French co-founders Maxim Romain and Henri Moissinac founded dott in Amsterdam earlier this year to offer all cities and citizens safe, green, flexible and affordable mobility solutions. Romain and Moissinac have brought together one of the most experienced teams in Europe for shared mobility, with a strong heritage from organizations such as ofo, Uber, Facebook and Decathlon. dott’s team is now working towards the goal of freeing inner cities from cars and pollution, and making short-distance trips enjoyable. Its mission starts with dockless shared eScooters and eBikes.
 
Dedicated to creating a real change in the way people move around cities, dott’s eScooters are built with safety, sustainability and sharing top of mind. Unlike other European players in the space, dott has designed its own sturdier eScooters, with 10” wheels for reliable road grip, wider decks for optimized center of gravity, double brake system for safety (e-ABS and drum brake), speed cap at 20km/h and a longer charging autonomy to increase eScooter availability. dott vehicles will also be 100% repairable, with all parts replaceable when damaged.
 
When it comes to cities, dott will have a “locals with locals” approach. It will rely on locally recruited teams to collaborate with the municipalities on developing the best solution tailored for each city. To be as transparent as possible, dott has communicated upfront a list of ten commitments the company will adhere to. These concrete commitments cover topics such as “city approval first”, “safety by design”, “top notch maintenance”, “green footprint” and “user privacy”. For example, to ensure user safety, dott will not rely on the gig economy like most other players but on dedicated, trained workers who will recharge, clean and maintain dott’s vehicles on a daily basis. The full list of commitments can be seen here.
 
The first eScooters will be launched in a pilot at STATION F, the world’s biggest startup campus. The Paris test launch in early 2019 will form part of the opening of STATION F’s new co-living space, FLATMATES.
 
“We believe we can significantly reduce the number of cars in cities if we make green vehicles such as eBikes and eScooters an enjoyable and practical experience for city residents,” said Maxim Romain, CEO and co-founder, dott. “This is why we focus on well-designed vehicles, safety, and sustainability - so we’re still operating in cities in 20 years. Our “locals with locals” approach fully empowers local teams to tailor their operations to the specific needs of each municipality.”
 
“Due to environmental and congestion concerns, last mile transport in cities has to get smarter and it’s no surprise that eScooter adoption is rapidly increasing,” said Lars Jörnow, partner and investment advisor at EQT Ventures. “The team was impressed by dott’s dedication to a locals with locals approach and its mission to make micro-mobility more efficient and environmentally friendly. We look forward to working closely with Maxim and Henri over the coming years.”
 
“Naspers invests in companies that address big societal needs in markets where we see the greatest growth potential. This will be our first investment in mobility in Europe, a dense region that is ripe for disruption in short, inner city commuting,” said Martin Tschopp, COO, Naspers Ventures. “The dott team has experience in local mobility like no other team we have seen in Europe tackling micro-mobility. Also, their approach to working hand-in-hand with cities and towns to ensure their solution makes sense for the local community will ultimately be the best way to drive adoption and to win the market.”
 
About dott
dott is a micro-mobility European start-up founded by Maxim Romain and Henri Moissinac, gathering the most experienced team in mobility and tech in Europe. dott’s mission is to beautifully design micro-mobility for safety, comfort and durability, so that every European city and their citizens will enjoy traveling with dott vehicles. dott has created a list of ten commitments the company will adhere to in order to have a responsible and collaborative approach with cities. dott’s eScooters and eBikes will be deployed across European cities in 2019, starting with an eScooter pilot in early 2019. dott has raised an initial investment of €20 million, co-led by EQT Ventures and Naspers with participation from other investors and business angels in Europe.
 
About EQT Ventures
EQT Ventures is a multi-stage VC fund with commitments of just over €566 million. The fund is based in Luxembourg and has investment advisors stationed in Stockholm, Amsterdam, London, San Francisco and Berlin. Fuelled by some of Europe’s most experienced company builders and scalers, EQT Ventures helps the next generation of entrepreneurs with capital and hands on support. EQT Ventures is part of EQT, a leading investment firm with approximately €50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees.
 
About Naspers
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.
Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, eMAG, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, Swiggy, Twiggle, and Udemy.
Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER)
Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com
 

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