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Naspers increases investment in European e-bike maker

Read time 2min 20sec
The Dott team.
The Dott team.

Naspers, a global consumer Internet group and one of the largest technology investors in the world, through its Naspers Ventures division, has made a EUR30 million further investment in Dott,a European micro-mobility company.

The Johannesburg-headquartered multinational, together with the EQT Ventures fund,previously pumped EUR20 million in early-stage funding for Dott, and are co-leaders in this second stage of the start-up.

Other investors include Axel Springer Digital Ventures, Felix Capital, FJ Labs,U-Start Club and angel investors.

The investment will be used to accelerate the go-to-market for Dott’s custom-designed new product, the e-bike, the design of which is complete and pre-production is in progress.

Dott’s e-bike will launch within months, is produced in Europe and China, and assembled in France, says a Naspers statement.

Dott will be available in select cities in Germany, the UK and the Netherlands in the coming months. The micro-mobility company currently operates in Brussels, Paris and Lyon, with a first pilot in Milan as well.

Dott CEO and co-founder Maxim Romain says: “We’ve shown in the first months that we can offer a true alternative in European cities, taking the lead both in terms of sustainability and best user experience.

“We think we have a winning combination now, starting with our great results in Paris,along with scooters designed for shared mobility and fully integrated operations from start. Our aim is now to accelerate, take the full lead in cities where we operate, expand to new countries and launch our own Dott e-bike as well as the two next generations of e-scooters in the coming months.”

This is the latest investment by Naspers, which has been strategically enhancing its portfolio of digital assets, with the aim of making it an operationally and financially strong global company.

Three weeks ago, it announced its R1.4 billion venture capital fund Naspers Foundry, aimed at South African start-ups, has made its first deal, with aR30 million investment in SweepSouth, an online cleaning services platform that connects clients with domestic cleaners.

Nasperssays the investment kicks off its commitment to supporting talented and ambitious entrepreneurs in SA who are using technology to improve people’s daily lives.

Launched at the South Africa Investment Conference in October last year, Naspers Foundry aims to boost the South African technology sector. As well as providing much-needed funding, Naspers Foundry will help talented and ambitious South African technology entrepreneurs develop and grow their businesses, the company says.

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