Sweden-based Voi Technology, an E-mobility startup creating a sustainable transportation network by manufacturing and distributing electric scooters, raised USD 115 million on 21st December.
Investors: The investment was round led by Raine Group and VNV Global, alongside Inbox Capital, Nordic Ninja, Stena Sessan, Kreos Capital, and new investors Ilmarinen, Nineyards Equity and ICT Capital, and others. In addition to King, Avito, BCG, and other leading entrepreneurs and operators participated in the round.
Purpose of funding: Voi plans to continue expanding its fleet of e-bikes and enter new European markets using the funds. A significant portion of the funds will be used to launch Europe’s safest e-scooter, the Voiager 5. The aim is to achieve Vision Zero – zero accidents.
About Vio Technologies
Founded in 2018 by Adam Jafer, Douglas Stark, Filip Lindvall, Fredrik Hjelm, Johan Pietilä Holmner, and Keith Richman, Voi Technology is located in Stockholm, Sweden. Voi Technology is an E-mobility startup creating a sustainable transportation network by manufacturing and distributing electric scooters. It aims to create an affordable and sustainable way to commute around urban centres while reducing carbon footprints by deploying electrically powered scooters. Moreover, the startup has won more city tenders than any other operator in Europe, making it the most trusted provider of micro-mobility throughout Europe.
What the founder has to say
“There is no doubt that micro-mobility is here to stay, and Voi intends to be the go-to mobility platform in Europe for cities that want to give their residents and visitors an integrated, smart mode way to travel. Working closely with cities, we are seeing a new vision of urban transport taking shape that is highly complementary to public transport. We are building the future of transport, and we are committed to making every Voi town and city a better place to live,” said Fredrik Hjelm, co-founder and CEO at Voi Technology.
What the investors have to say
“We are excited to continue our support of Voi in its efforts to bring safe and sustainable micro-mobility solutions to markets across Europe. Since we first invested a year ago, Voi’s commitment to product innovation, operational efficiency, and local partnerships have helped the company extend its leadership position in the region. We welcome the support of new and returning investors in this round to help advance Voi’s efforts to partner with cities to help make the continent more green,” said Jason Schretter, Partner and Head of EMEA at Raine Group.
“Having invested in Voi since day one, we are thrilled to see this three-year-old company establishing itself as the leading, most efficient micro-mobility operator in Europe. We are reaching a tipping point with micro-mobility where cities, led by their residents, are waking up to the full potential of this new mode of transport. Fully integrated with public transport, sustainably sourced, and powered by renewable energy, Voi is putting itself far ahead of the competition as the grown-up, responsible operator-partner for cities,” said Per Brilioth, CEO at VNV Global.
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