Naspers has co-led a €30 million Series A funding round into Dott, the European micro-mobility startup through its Naspers Ventures division, as it moves to focus on top global and profitable ventures away from its South African roots.
According to Martin Tschopp, COO, Naspers Ventures, “The dense nature of cities in Europe is ideal for e-scooter and e-bike sharing for short commutes – most trips are much more efficiently covered than with a car,” Dott has experienced good traction in its first few months of operation and is leading with a local, sustainable and safety-first mindset, which is appealing to Naspers.”
EQT Ventures was the other co-lead investor in the round. Other investors include existing investors Axel Springer Digital Ventures , Felix Capital, FJ Labs, U-Start Club and angel investors.
Dott says it will use the €30m investment to launch in new cities in Germany, the UK and the Netherlands, accelerate the go-to-market for its E-bikes, E-scooters and as well provide comprehensive insurance
coverage at the same price and other fleet management tools.
Dott is already in operation in Brussels, Paris and Lyon, with a first pilot in Milan as well.
Co-founded by French entrepreneurs Maxim Romain and Henri Moissinac, Dott is the first company to offer comprehensive insurance coverage to its users in France and Belgium (coming soon in Italy) in partnership with Zego (Insurtech leader) and La Parisienne Assurances .
This insurance covers both personal injury and third-party liability and is automatically integrated into the sign-up process for new riders and before the next trips for the existing riders, with no extra cost.
“We’ve shown in the first months that we can offer a true alternative in European cities, taking the lead both in terms of sustainability and best user experience,” said Maxim Romain, CEO, and co-founder, Dott . “We think we have a winning combination now, starting with our great results in Paris, along with scooters designed for shared mobility and fully integrated operations from start. Our aim is now to accelerate, take the full lead in cities where we operate, expand to new countries and launch our own Dott e-bike as well as the two next generations of e-scooters in the coming months.”
Apart from insurance, safety is also a key part of this strategy. Along with offering a more stable scooter with bigger wheels (10 inches), lower center of gravity and double-brake system.