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Voi’s $160 Million Raise Shows Investors Still Trust Scooters

  • Funding round values Swedish startup ‘north of $500 million’
  • European players take it steady after U.S. rivals overexpanded
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Scooter-rental startup Voi Technology AB said it’s secured $160 million of new funding, just weeks after German rival Tier Mobility raised $250 million from investors including SoftBank Group Corp.

The Swedish company’s Chief Executive Officer Fredrik Hjelm said it shows investors are confident that Europe’s e-scooter companies are succeeding through steady growth where their bigger U.S. rivals struggled as a result of aggressive expansion.