Micromobility company Voi has raised $45 million in a Series-C round extension, bringing the total to $205 million. The additional funding is expected to fuel further R&D in e-scooter parking and safety solutions, as well as deploy more of the company’s e-bike offerings. To date, Voi has raised just over $400 million.
Since the beginning of this year, Voi has quietly been assembling a small empire. It is now the largest micromobility operator in Europe with both the most number of rides and the most scooter licenses of all operators. The company has won more than 40% of the licensed markets in Europe, accounting for some 2 million rides per week.
While the firm might have been shut out of the London e-scooter trials, it doesn’t appear to be taking the slight lying down. Instead, the company is doubling down on one of the biggest complaints against e-scooters, and recently introduced a computer vision solution that aims to keep riders off the pavement.
“With this new investment, we will continue to invest in developing our e-scooter and e-bike fleets, pioneering innovative approaches to parking and safety, and advocate for change to help create more liveable cities across the world,” commented co-founder and CEO Fredrik Hjelm.