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Europe’s e-scooter startups Take Off

In 2020, investors started funding in Europe’s electric-scooter start-ups; the German operator Tier company has superseded the U.S. Lime counterpart; and stands at second place led by Bird electric scooter. The November report by the German company shows raising $250 million and its valuation almost reaches $1 billion. Also, the Sweden-based Voi firm has collected $160 million without revealing its valuation, assumed to be a huge amount. Fredrik Hjelm, co-founder of the firm, said in the years 2017-2018 collected a huge sum, standing at the peak of the industry. Presently, Europe’s e-scooter business wins contracts thanks to its high efficiency. In the wake of the pandemic, the U.S.’s Lime and Bird were struck, putting off their operation in various markets and dismissing many employees. Samira H.
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By Samira Hassanzadeh on October 19, 2021


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