This archive report was first published on 5 July 2019.
Naspers, through its Naspers Ventures division, has co-led a €30 million Series A funding round into Dott, a European micro-mobility startup, as it shifts its focus to top global and profitable ventures away from its South African roots.
Published on July 5, 2019, the funding round saw EQT Ventures as the other co-lead investor, with existing investors Axel Springer Digital Ventures, Felix Capital, FJ Labs, U-Start Club, and angel investors also participating.
According to Martin Tschopp, COO of 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.
Dott plans to use the €30 million 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 provide comprehensive insurance coverage at the same price and other fleet management tools.
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, in partnership with Zego and La Parisienne Assurances.
Maxim Romain, CEO and co-founder of Dott, said, “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. 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.”
