Abrdn invests in Dott, e-scooters and e-bikes firm

Edinburgh investment giant Abrdn has invested in Dott, a European e-scooters and e-bikes company, which has announced a $70 million extension to its Series B funding round.

“This brings the total Series B funding raised to over $150m in a mix of equity and asset backed debt, including the $85m announced in the Spring of 2021,” said Dott, which calls itself a “micro-mobility” company.

“The extended round was jointly led by new investor Abrdn and existing investor Sofina.

“Other existing investors, including EQT Ventures and Prosus Ventures also participated in the round.”

Dott was created in October 2018 and has since grown its operations to cover 36 cities in nine countries across Europe.

At the end of 2021, Dott added 10,000 e-bikes to its fleet of over 40,000 e-scooters.

Alistair Watson, Head of Strategy Innovation, Private Equity, Abrdn, said: “Environmental, social and governance considerations are at the heart of our process as we seek the most sustainable investment opportunities globally.

“We felt that Dott is well positioned to be a leader in the category, offering a high quality product that has been recognised with significant growth in 2021, alongside a responsible business model which takes a rigorous approach to minimizing its carbon footprint.”