INSUBCONTINENT EXCLUSIVE:
$85 million in Series B funding.Backing the round is a mixture of existing and new investors
They include Balderton Capital, Creandum, Project A, JME Ventures, Raine Ventures, Kreos Capital, Inbox Capital, Rider Global, and Black Ice
The new funding brings the total raised by Voi to $136 million.Eagled-eyed readers will have noticed that, based on our previous Voi
coverage, the total figure is $32 million short
million Series A extension and therefore elected not to draw down the second tranche of its original Series A.Launched in 2018, the company
is best-known for its e-scooter rentals but now pitches itself as a micro-mobility provider, offering a number of different transport
These include various e-scooter and e-bike models, in a bid to become a broader transport operator helping to re-shape urban transport and
wean people off using cars.To date, Voi says it has 4 million registered users and has powered 14 million rides
More recently it has launched new, more robust hardware that has been designed to sustain the rigours of commercial e-bike sharing
The idea is that more suitable hardware will help e-scooter companies improve margins since more rides can be extracted from the life-span
already operating, as well as increase its R-D spend to improve its technology platform and products
projected to last over 18 months, which means the company should be in profit before it needs to raise again
In other words, we can expect new micro-mobility device categories in the future.
