E-scooter sharing firm VOI raises $115 mln, valuation crosses $1 bln

VNV Global AB (publ)

20/12/2021 23:00

STOCKHOLM, Dec 21 (Reuters) - Sweden's VOI Technology, which
operates e-scooter service in Europe, said on Tuesday it has
raised $115 million from investors such as Raine Group and VNV
Global  VNV.ST , valuing the company at just over $1 billion.   
    The revenue of VOI, whose competitors include Germany's Tier
and American companies Lime and Bird, has grown by 140% this
year but the company has yet to record an annual profit.
    The company has no immediate plans to enter the United
States to take on American rivals on their home turf, CFO
Mathias Hermansson said in an interview. "It's safe to say that
we have plenty of investment opportunities in Western Europe." 
    By 2023, VOI intends to use only battery cells produced in
Europe, in hopes of lowering its carbon footprint by 50%.
    Since its founding in 2018, VOI has raised $430 million from
investors including Inbox Capital, Nordic Ninja, Stena Sessan,
Kreos Capital, Ilmarinen, Nineyards and ICT Capital.
    "We will definitely start preparing so we have the option to
go public," Hermansson said, adding that the company does not
have a concrete plan to go public yet. 

 (Reporting by Supantha Mukherjee, European Technology &
Telecoms Correspondent, based in Stockholm
Editing by Matthew Lewis)
 ((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004;
Reuters Messaging:
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