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TOP STORIES 🔥

💰 Forest raises €15 million

Forest has secured £13 million (€15.3m) in the first close of its Series B funding round. This includes up to £10 million in Asset-backed Financing from Fintex Capital and a £3 million investment from B8 Venture Partners (B8VP) and existing investors.

The funding will help Forest expand its fleet, enhance research and development, and fund an expansion to a new European capital. At present, Forest are only active in London, but have been vocal about targeting Paris as their 2nd city, if they are able to secure a licence through the ongoing tender (results expected April-May 2025).

In 2024, Forest completed over 10 million trips, placing them ahead of the Santander Cycles station-based bike service (8.7 million trips).

❓Unconfirmed Voi & Bolt talks

Last week, there were whisperings of a dialogue between Bolt and Voi, regarding a potential sale of Bolt’s micromobility business to the Swedish operator.

This story is very much still a rumour, but would it make sense for both parties?

Voi were linked to a merger with TIER in 2023, before the merger with Dott took place. A sale or merger with Bolt would increase Voi’s fleet from 80,000 vehicles to more than 200,000, creating a giant to rival TIER-Dott and Lime.

A sale of the micromobility business would allow Bolt to focus on ride-hailing and car sharing. Just this week, a partnership with MILES was announced to display all MILES shared cars on Bolt Drive. A re-focus on their core business would be reminiscent of when Uber sold JUMP to Lime in 2020. Uber acquired a $170 million stake in the transaction, and a similar deal would see Bolt continue to have skin in the game.

LAUNCHES & EXPANSIONS 🚀

Bolt
Launch in Plovdiv (BG) 🛴 (300)

Enterprise
Launch in Letterkenny (IE) 🚗 (2)

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PAUSES & EXITS 👋

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CITY UPDATES 🌐

Avignon (FR) | Vélopop’ reaches 200,000 trips in first 6 months.

Florence (IT) | Ranks #2 for bike sharing in Italy with over 2 million trips in 2024.

Novara (IT) …

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INDUSTRY NEWS 🗞️

Bolt launches Bolt Business, allowing companies to book for employees, customers and partners, offering app and web booking, scheduled rides, control over spending limits.

Forest raises €15.3 million.

Ridemovi CEO explains why he thinks that the Highway Code changes in Italy will benefit micromobility in the long-run.

Shift4Good, a global impact investment fund, raises €220 million.

MILES’ 20,000 vehicles to now be displayed on the Bolt app in Germany.