An e-scooter startup headquartered in Sweden, VOI Technology has grabbed $50 million (€44 million approx) in a Series A funding recently. Leading the round was London-based venture capital firm Balderton Capital along with LocalGlobe, Raine Ventures and previous VOI backer Vostok New Ventures. With this investment, Balderton has entered into the e-scooter market after three of the big London venture capital firms made U.S. investments in the sector.
VOI Technology: An Insight
VOI Technology was founded by Fredrik Hjelm, Douglas Stark, Adam Jafer and Filip Lindvall at Stockholm in the August of 2018. The startup specialises in offering technological assistance to ease traffic-clogged city centres and reduce pollution. Acting as the first-and-last-mile alternative to cars and taxis, the e-scooters by VOI Technology boast a ‘clean, efficient, cost-effective and zero emission’ ride.