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Naspers among investors of €30-million in Europe's Dott

By , ITWeb
South Africa , 04 Jul 2019

Naspers among investors of €30-million in Europe's Dott

Global internet group and tech investor Naspers, via its Naspers Ventures division, is part of a group of existing investors in European micro-mobility firm Dott. The investors have committed to a €30-million Series A funding round to accelerate the go-to-market for Dott's products.

Dott is a micro-mobility European start-up founded by Maxim Romain and Henri Moissinac.

According to information supplied, Dott has raised an initial investment of €20 million in December 2018, co-led by EQT Ventures and Naspers with participation from other investors and business angels in Europe.

At the time Martin Tschopp, COO, Naspers Ventures, was quoted as saying: "Naspers invests in companies that address big societal needs in markets where we see the greatest growth potential. This will be our first investment in mobility in Europe, a dense region that is ripe for disruption in short, inner city commuting."

"The dott team has experience in local mobility like no other team we have seen in Europe tackling micro-mobility. Also, their approach to working hand-in-hand with cities and towns to ensure their solution makes sense for the local community will ultimately be the best way to drive adoption and to win the market."

Dott has 80 members of staff with two headquarters: technical & admin HQ in Amsterdam, operations HQ in Paris.

A statement issued by Naspers confirms that the €30-million will be used to drive the Dott products into the market, including its E-bike and E-scooter generations 2 and 3.

The funding will also be invested in service, in-house operations, teams, warehouses and repair workshops, according to Naspers.

Tschopp said of the latest investment drive: "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."

Naspers made headlines in Africa recently after it announced it had created a new executive position for its South African operations and specifically the appointment of Phuthi Mahanyele-Dabengwa as CEO.

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