European Uber competitor Bolt receives million-dollar investment
Tom Schmidtgen
| 17.12.2020
The Estonian driving service provider Bolt has received 150 million euros. The investment is to go towards new safety features.
Leading the investment round is D1 Capital Partners, a hedge fund run by American billionaire Daniel Sundheim, and Darsana Capital Partners. By his own admission, Bolt has already invested heavily in the safety of his scooters and cars, including an SOS button. Earlier this month, the fourth-generation scooter designed by Bolt himself was unveiled. Bolt calls it the "safest scooter model on the market."
The investment will be used to develop more functionalities to further enhance safety. "We plan to introduce even more innovative solutions such as facial recognition and automatic ride monitoring, using machine learning to prevent potential incidents," says CEO Markus Villig.
Bolt was founded in 2013 and is now active in 40 countries. Daimler is among its investor base. Bolt offers both taxi rides and scooter rentals. This makes them one of the biggest competitors of the American provider Uber.
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