Smart Transport

Voi eyes European expansion with latest £87m funding

Micromobility provider Voi has raised $115 million (£87m) in a latest round of funding that will help expand its European operations in 2022.

The company has raised a total of $160m (£120m) in total funding in 2021 and has raised £323m from investors since it was founded three years ago.

Voi achieved  140% year-on-year revenue growth in 2021, as the company hit over 90m rides since inception.

Voi is currently taking part in the UK e-scooter trials and is one of the largest shared micromobility operators in the UK, with operations in 18 locations across England, including cities like Liverpool, Bristol and Birmingham.

The new funding will provide funds to continue expanding into new European markets and add more e-bikes to the Voi fleet.

Voi has set an ambition to take 1bn car trips off Europe’s roads by 2030 and the company said expansion into new markets and solutions is integral to achieving this. 

Fredrik Hjelm, co-founder and chief executive of Voi Technology, said: “There is no doubting that micromobility is here to stay and Voi intends to be the go-to mobility platform in Europe for cities that want to give their residents and visitors an integrated, smart mode way to travel.

“Working closely with cities we are seeing a new vision of urban transport taking shape that is highly complementary to public transport.

“We are building the future of transport and we are committed to making every Voi city a better place to live.”

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