Sweden’s e-scooter startup VOI Technology raises $50M

VOI Technology, an e-scooter startup headquartered in Sweden has raised $50 million in Series A funding.

London-based venture capital firm Balderton Capital led the round, alongside LocalGlobe, Raine Ventures, and previous VOI backer Vostok New Ventures. Othrs who participated include Cristina Stenbeck, Jeff Wilkes (Amazon), Justin Mateen (co-founder of Tinder), Nicolas Brusson (CEO and co-founder of BlaBlaCar), Sebastian Knutsson (co-founder of King), Spencer Rascoff (CEO of Zillow), and Keith Richman.

Launched in Sweden’s Stockholm in August 2018 by founders Fredrik Hjelm, Douglas Stark, Adam Jafer and Filip Lindvall, VOI has since expanded to Madrid, Zaragoza and Malaga in Spain.

the startup will use the new funding to continue to expand into new European markets. Belgium, the Netherlands, Luxembourg, France, Germany, Italy, Norway, and Portugal are said to be launching “in the coming months”.

The e-scooter startup had previously raised around $3 million earlier this year.

 

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