An $85 million investment round is coming the way of micromobility brand Dott, as it looks to broaden its services to other modes of transport.
The Series B investment is led by Belgian finance house Sofina and Estari, a growth equity partner that invests in European technology companies.
The total raised by the Netherlands-based company now stands at just over $130 million over three rounds.
The round will be used to "go multimodal" during 2021 with the addition of e-bikes to its vehicles.
It also plans to expand to a number of new cities in Europe, including those in Spain and the U.K.
Dott co-founder and CEO Henri Moissinac says: “We think we have a winning formula now, combining operational excellence, hardware & software expertise, collaboration with city stakeholders and capital efficiency."
A core part of the company's proposition is to "raise industry standards on sustainability," it says, with a pledge to lead decision-making in European cities around sustainable mobility services.