European micro-mobility startup Dott is
about to raise a $34 million Series A round
(€30 million). Compared to many scooter
companies out there, the startup is taking a
careful approach when it comes to growth in
order to build a good reputation and a
sustainable service.

EQT Ventures and Naspers are leading
today’s found. Existing investors Axel
Springer Digital Ventures, DN Capital, Felix
Capital, FJ Labs and U-Start Club are also
investing again.
Dott had previously raised a $23 million
round (€20 million) from EQT Ventures,
Naspers and others.

Some scooter startups are aggressively
expanding in dozens of cities. They’re often
buying a ton of scooters and putting them
on the streets without thinking about a long
term plan.

Dott has made many promises ticking all the
right boxes to go against this “move fast,
break things” motto. The company works
with local governments to get approval.
It then rolls out a reasonable fleet of
scooters. Dott is currently live in Brussels,
Paris, Lyon and Milan. The company has
around 1,000 to 2,500 scooters per city.

The company has its own warehouses to
charge and repair vehicles. There’s no juicer
who collect scooters at night and charge
them at home. Dott hires full-time
employees and works with third-party
logistics providers.


Scooters are also supposed to be sturdier
thanks to a dual brake system and bigger
wheels. Every part is supposed to be
replaceable.

And the company is now going one step
further by including insurance coverage for
no extra cost. Dott is partnering with Zego
and La Parisienne Assurances to cover
personal injuries and third-party liability in
France, Belgium and soon Italy.


Up next, Dott plans to release a second
generation of scooter with swappable
batteries, which should make fleet
management much easier. And the company
is already working on a third generation of
vehicles.


Dott also plans to launch a new type of
vehicles, e-bikes. They aren’t ready for
prime time yet — they will be produced in
Europe and China, and assembled in France.
And of course, the company plans to
gradually expand to new cities in Germany,
the U.K. and Netherlands.

Now let’s see if Dott can keep all its
promises as it scales around Europe. Taking
a sustainable approach will require a ton of
capital. Dott is betting that other scooter
companies will crash before Dott runs out of
cash.

And it’s clear that many scooter companies
didn’t realize how brutal the scooter market
could be. Les Echos reported earlier this
week that Bolt, Wind, Hive, Ufo, Voi and Tier
had all halted their services in Paris.
Lime, Bird, Circ, Dott, Jump and B-Mobility
are still around, but I’m sure there will be
more consolidation over the next 12 months.