E-Scooter sharing Firm VOI Raises $115 Mln, Valuation Crosses $1 Bln | Reuters

FILE PHOTO:Electrical scooters from Swedish startup VOI and U.S. rival Lime sit parked within the enterprise district in Stockholm, Sweden July 6, 2019. Image taken July 6, 2019. REUTERS/Esha Vaish

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STOCKHOLM, Dec 21 (Reuters) - Sweden's VOI Know-how, which operates e-scooter service in Europe, stated on Tuesday it has raised $115 million from traders similar to Raine Group and VNV International (VNV.ST), valuing the corporate at simply over $1 billion.

The income of VOI, whose opponents embrace Germany's Tier and American corporations Lime and Chook, has grown by 140% this yr however the firm has but to report an annual revenue.

The corporate has no instant plans to enter the US to tackle American rivals on their residence turf, CFO Mathias Hermansson stated in an interview. "It is protected to say that we have now loads of funding alternatives in Western Europe."

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By 2023, VOI intends to make use of solely battery cells produced in Europe, in hopes of reducing its carbon footprint by 50%.

Since its founding in 2018, VOI has raised $430 million from traders together with Inbox Capital, Nordic Ninja, Stena Sessan, Kreos Capital, Ilmarinen, Nineyards and ICT Capital.

"We will certainly begin making ready so we have now the choice to go public," Hermansson stated, including that the corporate doesn't have a concrete plan to go public but.

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Reporting by Supantha Mukherjee,

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