• VOI

  Participated · Series C · Dec 2020

  Voi Technology AB operates a shared e-scooter and e-bike service with over 110,000 vehicles across 12 countries. The company, founded in 2018, focuses on data-driven automation and cost-effective operations to improve vehicle gross profit margins. In 2024 Voi introduced its seventh-generation e-scooter and third-generation e-bike, aiming to deliver better energy efficiency, durability, and rider experience. Management has cut the central cost base by nearly 50% since mid-2022 and says it has met profitability targets. 2024 is expected to be a record year for rides and revenues, supporting plans to scale the next-generation fleet. Voi emphasizes partnerships with cities and communities as part of its strategy to integrate micromobility into urban transport networks. Voi operates shared e-scooter and e-bike fleets across Europe, serving consumers and city partners. In 2023 the company logged over 68 million rides and reported revenue growth of nearly 50% over the past two years; gross profit has more than doubled while overhead costs were reduced by almost 50%. Voi achieved its first quarter of positive EBIT at the group level and is focused on reaching full profitability and positive cash flow. With new equity and debt financing, Voi plans to scale its fleet, deploying 3rd-generation e-bikes and 7th-generation e-scooters in spring 2024 and expanding in existing and new markets. The company also intends to intensify sustainability efforts, improve environmental impact, work with cities to increase sustainable mobility options, and maintain safety and leading workplace practices. The conversion of prior convertible notes and the new financing are presented as strengthening Voi's financial position for further growth. Voi operates a shared micromobility platform providing e-scooters and e-bikes across more than 70 cities in 12 countries. The company partners with cities to deliver low-carbon, first- and last-mile transport and has a stated ambition to remove 1 billion car trips from Europe’s roads by 2030. Voi plans to expand into new European markets, add more e-bikes to its fleet, and launch the Voiager 5 e-scooter model in the spring as part of a Vision Zero safety commitment. It intends to have fully electric operational vehicles by early 2023 and to source only European-produced battery cells by 2023 to cut carbon footprint. Voi reported 140% year-over-year revenue growth in 2021, reached 90M+ rides since inception, and claims more than six million users. The company became operationally profitable company-wide in summer 2020 and employs about 1,000 people. Voi operates a micromobility platform offering e-scooters and e-bikes across Europe. It is now the largest micromobility operator in Europe by rides and scooter licenses, serving about 2 million rides per week and holding more than 40% of licensed markets. The company has introduced a computer-vision solution intended to keep riders off pavements and is focusing on parking and safety innovations. The new funding is earmarked for further R&D in e-scooter parking and safety solutions and to deploy more of Voi’s e-bike fleet. CEO and co-founder Fredrik Hjelm said the company will continue to advocate for changes to create more liveable cities. Financially, Voi has raised just over $400 million to date. Voi operates shared electric scooters and e-bikes, providing micromobility services across major European cities. The company focuses on hardware and software integration, safety improvements and fleet efficiency, including swappable batteries and renewable-energy operations. Voi plans to expand its fleet and geographic footprint, roll out its Voiager 4 scooter to more cities, and invest in platform and safety features such as helmet technology, improved lights, location accuracy, brakes, signalling and suspension. The business says it wins over two-thirds of city license tenders and leads in fleet efficiency across markets including Berlin, Oslo and Stockholm, with recent city wins in Birmingham, Liverpool, Bern and Cambridge. Financially, Voi raised more than €132 million in a Series C and secured the industry’s first scaled asset-backed debt facility to finance scooter and e-bike investment in 2021; total funding over the last four months is over €157 million.

No current team members are available.