INSUBCONTINENT EXCLUSIVE:
Leading the round is VC fund Northzone, with participation from existing investors Speedinvest, and Point Nine.The investment marks the
biggest financial backing for a European company in the space, and, according to my sources, signals the beginning of a pending VC war to
also thought to be out raising a war chest from VCs across Europe
planning to be pan-European, including Germany
To name just a few.Meanwhile, Bird and Lime have made tentative launches in Europe
The United States e-scooter services are both available in Paris, with other European cities expected soon.More on Northzone-backed
help create a sustainable experience
However, the plan is to use the new Series A funding to roll out the Tier service to additional European cities, and to further scale the
accessible and convenient transport, thanks to their high population density and political commitment to lower carbon emissions
It takes a strong team to navigate a complex landscape
Tier is the frontrunner in Europe, and we have been incredibly impressed with what the team has achieved to date
from multiple European VCs, with the aim of creating both a war chest to fend off Bird and Lime, but also to launch a pan-European e-scooter
service that hits the road motoring via a roll up of other nascent e-scooter startups across the region.The figure being touted is between
$100 million and $200 million, with one source telling me it is still very early days, while another says the deal is practically done
In other words, we might expect to see some investors previously associated with Delivery Hero take part.More intriguingly, one source,
albeit based on limited information, said that if the mega round is true it will be fascinating to witness a number of top European VCs
promising unit economics, to be rolled over by a United States company in the same way that Uber swept into Europe and overtook much of the
