Micro-mobility firm Dott has added $70 million to its Series B funding round.
The investment was led by Aberdeen Standard Investment and existing investor Sofina, with EQT Ventures and Prosus Ventures also involved.
The total for the Series B for Netherlands-based Dott is now more than $150 million following an initial $85 million announced in April 2021.
Dott says the investment will accelerate the roll out of its e-bikes as well as invest in product development and expand beyond the 36 cities it currently operates in.
The company, which was founded in 2018, says it added 10,000 e-bikes to its existing fleet of more than 40,00 e-scooters in 2021.
Henri Moissinac, co-founder and CEO at Dott, says: “Starting 2022 with additional funding will propel our growth and allow us to offer environmentally friendly travel to more people.”
Alistair Watson, head of strategy innovation in private equity at Aberdeen Standard Investment, says: “Environmental, social and governance considerations are at the heart of our process as we seek the most sustainable investment opportunities globally.
"We felt that Dott is well positioned to be a leader in the category, offering a high quality product that has been recognised with significant growth in 2021, alongside a responsible business model which takes a rigorous approach to minimizing its carbon footprint.”
Rivals in the space have also gained significant funding in recent months, with Tier announcing $200 million in Series D in October and Lime announcing $523 million in November.