Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Hardware
No Result
View All Result
  • Home
  • News
    • (Crowd)funding
    • Startups
    • Scaleups
    • AI and chatbots
    • Travel & Mobility
    • FinTech
    • Health & Medtech
    • Blockchain
    • Internet of things
    • Drones
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Software & SaaS
    • Gaming & Virtual Reality
    • Hardware
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Promoted content
  • Events
  • About Us
    • Our editorial team
    • How to contact Silicon Canals?
    • Partner with us
  • Scaling-up in Europe
  • Home
  • News
    • (Crowd)funding
    • Startups
    • Scaleups
    • AI and chatbots
    • Travel & Mobility
    • FinTech
    • Health & Medtech
    • Blockchain
    • Internet of things
    • Drones
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Software & SaaS
    • Gaming & Virtual Reality
    • Hardware
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Promoted content
  • Events
  • About Us
    • Our editorial team
    • How to contact Silicon Canals?
    • Partner with us
  • Scaling-up in Europe
No Result
View All Result
Silicon Canals
No Result
View All Result

Tier, Berlin-based micro-mobility service picks up €55M as competition heats up in the booming e-scooter market

Editorial team by Editorial team
October 7, 2019
in (Crowd)funding, News, Startups, Travel & Mobility
0
Tier, Berlin-based micro-mobility service picks up €55M as competition heats up in the booming e-scooter market
19
SHARES
Share on LinkedInShare on Twitter

Tier Mobility was established in 2018 to change urban commuting with its e-scooter rentals, making it possible to reach the last mile. Recently, the German micro-mobility company has secured around $60 million (approx €55 million) in Series B funding round led by Mubadala Capital and Goodwater Capital.

10 winning deep tech scaleups of 2019
10 winning deep tech scaleups of 2019
Take a look at winners of EIT Digital Challenge 2019.
Take a look at winners of EIT Digital Challenge 2019. Show Less
Read more

Lawrence Leuschner, CEO and Co-founder of TIER Mobility, commented: 

We are extremely excited to have Mubadala Capital and Goodwater Capital lead this round. With their deep experience supporting consumer tech entrepreneurs around the world, they will help us accelerate our expansion plans, bringing the mobility revolution to the largest possible number of users worldwide.

Notably, two new investors AXA Germany and Evli Growth Partners, joined the funding round, in addition to the existing investors, including White Star Capital, Northzone, Speedinvest, Point9, Indico, Kibo Ventures, Market One Capital, and selected business angels like Nico Rosberg.

Amer Alaily from Mubadala Capital said: 

We firmly believe that micro-mobility as a form of transportation is here to stay, especially in Europe. We are confident that TIER Mobility is best positioned to become the leading player in Europe and Globally.

The Berlin-based company is planning to use these proceedings to accelerate its European expansion strategy and continue to build the leading micro-mobility platform for citizens, city authorities, and public transportation partners alike. It’s worth mentioning here that J.P. Morgan acted as exclusive Financial Advisor and Placement Agent in connection with the Series B funding round.

Fastest growing mobility company in history!

Interestingly, the demand for e-scooters in cities across the world has helped the industry’s most prominent players achieve bilion dollar valuations in less than two years. Since its funding round in February 2019, the micro-mobility company has expanded operations to over 40 cities in 12 countries with four iterations of scooter hardware. Consequently, the company crossed 10 million rides in just eleven months since launch, making TIER the fastest growing mobility company in history.

Fighting the current status quo!

For the uninitiated, Tier founded by Lawrence Leuschner, Julian Blessin, and Matthias Laug to reduce pollution in cities with their e-scooters. The company aims to fight the current status quo of polluted cities, smog, and ineffective/overpriced transportation modes together with their users and local communities. 

Works with companion app!

The e-scooter startup works with a companion app that helps locate the nearest available vehicle. In terms of rates, the company lets users unlock an electric scooter for €1 and take a ride for €0.15 per minute. Headquartered in Berlin, TIER Mobility right now employs over 350 people. 

Chi-Hua Chien, Co-Founder & Managing Partner at Goodwater Capital commented: 

TIER Mobility is not only the fastest-growing mobility company in the world but one of the fastest-growing companies in consumer tech history. With phenomenal execution, they have emerged as the leading micro-mobility provider in Europe with only a fraction of the invested capital of their competitors. This is a true testament to the uniquely capital efficient and profitable model the team chose to deploy from the outset. TIER’s unique approach to operations and partnerships yields superior unit economics and defensibility. We are thrilled to be part of their mission to Change Mobility for Good.

Stay tuned to Silicon Canals for more European technology news.

Nuclear power for your b2b-startup: 5 reasons why you should join the Comet Competition

CerbAir: A prize-winning French scaleup fighting drone threats
CerbAir: A prize-winning French scaleup fighting drone threats
Winner of the first prize in “Digital Cities” category at the EIT Digital Challenge...Show More
Winner of the first prize in “Digital Cities” category at the EIT Digital Challenge has big future plans. Show Less
Read more
Tags: fundingGerman startupsMobility
ShareTweet2Send

Scaling-up in Europe with EIT Digital


Together with our media partner EIT Digital, we have launched an online special on scaling-up in Europe and beyond. Why? We believe that scaleups in Europe have the future. We want to inspire these scaleups to grow in Europe by sharing news, knowledge, and experiences.

Follow the articles in this channel: Scaling-up in Europe or via the hashtag #scalingEU. Or find out more about the EIT Digital Challenge 2019 here.

Trending

AI in Madrid: 10 promising Spanish tech startups holding the flag high!
AI and chatbots

AI in Madrid: 10 promising Spanish tech startups holding the flag high!

December 5, 2019
10 best online food delivery apps in London that can deliver meal instantly to your doorstep in 2019
Lifestyle

10 best online food delivery apps in London that can deliver meal instantly to your doorstep in 2019

June 19, 2019
Airalo is world’s first eSIM store and here’s how it plans to change the telecommunication industry forever
(Crowd)funding

Airalo is world’s first eSIM store and here’s how it plans to change the telecommunication industry forever

October 11, 2019
Lime vs Circ vs Tier vs VOI: Top e-scooters in Berlin reviewed and we choose one unexpected winner!
News

Lime vs Circ vs Tier vs VOI: Top e-scooters in Berlin reviewed and we choose one unexpected winner!

August 22, 2019
  • About Us
  • Partner with us
  • Contact us
  • Our editorial team
  • Disclaimer
  • Privacy policy
  • Terms & Conditions

Silicon Canals 2014-2019 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • (Crowd)funding
    • Startups
    • Scaleups
    • AI and chatbots
    • Travel & Mobility
    • FinTech
    • Health & Medtech
    • Blockchain
    • Internet of things
    • Drones
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Software & SaaS
    • Gaming & Virtual Reality
    • Hardware
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Promoted content
  • Events
  • About Us
    • Our editorial team
    • How to contact Silicon Canals?
    • Partner with us
  • Scaling-up in Europe

Silicon Canals 2014-2019 | Website: Bright Idiots

Daily news on Europe's technology industry and the startup ecosystem

Subscribe to our newsletter
Subscribe
close-link

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info