The Stockholm-based e-scooter startup VOI raises another €26 million to accelerate its expansion in Europe. The e-scooter startup has already expanded into 14 cities, including Paris, Madrid, and Lisbon.
Founded in August 2018, VOI raises €44 million Series A round in last November. The funding came from existing investors Vostok New Ventures, Balderton Capital, LocalGlobe and Raine Ventures, alongside new investors Project A and Creandum, and a host of business angels.
Riders can use Voi scooters by downloading the app to locate a nearby scooter on the street or by using a map, pressing the ‘ride’ button, and scanning the VOI QR code. There’s a €1 unlocking fee and a ride costs €0.15 per minute.
The startup’s approach to growth is “distinctively Scandinavian – based on dialogue, transparency, and sustainability,” said VOI’s CEO Fredrik Hjelm.
“Asking permission before we enter new towns and cities means we can work with the authorities on the ground to offer not only a viable alternative to cars, but also help people to combine their e-scooter journeys with the existing public transport network to make moving around as seamless as possible. This latest investment means we can take that approach to a range of new cities, while continuing to invest heavily in our product, technology and team,” added Hjelm.
The company already includes hires from Spotify, Uber, Bird, BCG, Avito,