Dott raises $34 million to build a sustainable scooter startupThis post was originally published on this site
European micro-mobility startup Dott is about to raise a $34 million Series A round (€30 million). Compared to many scooter companies out there, the startup is taking a careful approach when it comes to growth in order to build a good reputation and a sustainable service.
EQT Ventures and Naspers are leading today’s found. Existing investors Axel Springer Digital Ventures, DN Capital, Felix Capital, FJ Labs and U-Start Club are also investing again.
Dott had previously raised a $23 million round (€20 million) from EQT Ventures, Naspers and others.
Some scooter startups are aggressively expanding in dozens of cities. They’re often buying a ton of scooters and putting them on the streets without thinking about a long term plan.
Dott has made many promises ticking all the right boxes to go against this “move fast, break things” motto. The company works with local governments to get approval.
It then rolls out a reasonable fleet of scooters. Dott is currently live in Brussels, Paris, Lyon and Milan. The company has around 1,000 to 2,500 scooters per city.
The company has its own warehouses to charge and repair vehicles. There’s no juicer who collect scooters at night and charge them at home.