Micro-mobility firm, Voi, has raised £120m as it seeks to establish itself as the biggest operator in the European e-scooter rental market. The firm is now operating in six UK areas and has secured licences for a further 10.
On July 4, the blanket ban on riding e-scooters on UK roads and cycle lanes was partially lifted to allow for trials of rented scooters covered by a motor vehicle insurance policy.
Voi has been operating in the UK for about three months, launching trials in Birmingham, Liverpool, Bristol, Bath, Northampton and Cambridge. Last month the firm announced that it would be tripling its fleet during December in response to strong demand from the public.
The aim is to reach 4,000 vehicles by the end of the year.
Voi has now raised $160m (£120m) in new funding. The money will be used to invest in new technology, fund growth in current markets – not just the UK – and to bring the firm’s latest e-scooter model, the Voiager 4, to more cities across its network.
Fredrik Hjelm, the co-founder and CEO of Voi, said: “We and our city partners fully intend to achieve our target of Vision Zero – e-scooters that generate zero carbon, zero accidents and zero reasons not to embrace the future of transport.
“Through a combination of advanced e-scooter technology, increased rider adoption and better operational practices, Voi is generating significantly more rides per active scooter than ever before.
“Meanwhile, by introducing swappable batteries, integrating more sustainable fleet management infrastructure and switching to renewable energy to power our operations wherever possible, we have reduced the already minimal environmental impact of e-scooters even further.
“This funding will help us continue to offer an efficient and sustainable e-scooter service, while providing people with mobility they can rely on.”