European startup Dott has secured 30 million euros ($34 million) in a fundraisin...
FILE PHOTO: E-scooters are lined up during a presentation at the DESY campus in Hamburg, Germany, April 16, 2019. REUTERS/Fabian Bimmer/File Photo
Europe’s Dott, Tier and VOI, like U.S. rivals Bird and Lime, have put thousands of electric scooters on the region’s roads, betting large commuter populations and lower car ownership than in the United States will make such transport a European staple. Dott, whose e-scooters operate in Brussels, Paris, Lyon and Milan, said on Thursday it would soon close a Series A funding round, which had also seen existing investors Axel Springer and Felix Capital make commitments.
The move into bike sharing, with Dott’s rivals pursuing similar plans, comes after Asian bike operators GoBee and Mobike were forced to retreat from Europe due to price wars, vandalism and a backlash from authorities over regulations.
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