Tuesday, August 9, 2022
Tuesday, August 9, 2022
Home Startups Bolt raises $180m to bring its e-scooters on the road near you

Bolt raises $180m to bring its e-scooters on the road near you

by Milcah Lukhanyu
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Bolt, a mobility app for Europe and emerging markets has raised $180 million to make ride-hailing, micromobility and food delivery accessible to all bring.

The investment was led by D1 Capital Partners, and also included Darsana Capital Partners and will help the firm to add even more functionalities to its products and services designed to further enhance their safety.

According to Markus Villig, CEO @ Bolt, “Millions of customers already love Bolt for our affordable prices and fast service. In 2021, we are doubling down to be the industry leader in safety and quality of the platform. We’re planning to launch even more innovative solutions like driver face verification and automatic trip monitoring, using machine learning to prevent potential incidents and ensure the highest quality service for our customers.”

Bolt already has a number of safety features for both riders and drivers such as an SOS button, designed to let users contact emergency services quickly if needed; and a “Share Ride Info.” button, allowing riders to inform friends and family of their location and expected time of arrival.

The firm also earlier this month unveiled its 4th generation scooter, developed by 100% in-house. Bolt says the scooter is the safest scooter model on the market due to its unique sensors that detect unsafe riding patterns. It has also been optimised to provide extra stability and safer manoeuvring.

Bolt aims to bring its e-scooters to more than 100 cities across the continent in 2021. These cities will be serviced by its expanded fleet of electric scooters custom-made and designed, built and deployed by Bolt.

In 2020, Bolt e-scooters have been launched in 45 cities in over 15 countries, including Sweden, Norway, and Portugal. And the firm plans to get 130,000 e-scooters and e-bikes on the streets in 2021.

“Our cities are suffering from traffic, emissions and lack of public space caused by parking. We believe that the future of urban transport is a network of on-demand services — ride-hailing, electric scooters, bikes and other light vehicles. The days where every person needs to buy a car are over,” said Markus Villig CEO and co-founder Bolt.

“We’ve seen that one of the biggest bottlenecks in the transition to shared electric mobility is pricing, which is why we’re excited to bring affordable scooters and electric bikes to even more countries across Europe next season, including Germany and the UK. Bolt is the largest European ride-hailing network, which enables us to offer the best prices to customers thanks to shared costs between the businesses.”

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