We are making the transport of the future, we've attracted investments to develop our micro mobile transport service
We are delighted to announce that the Whoosh team has raised $25 million from VTB Capital Investments and Otkritie Capital to scale up the e-scooter sharing service. We plan to expand the number of scooters in the cities where we are already present and to launch new systems in other cities. We'll also continue to improve the systems for our own sharing platform, IoT module and other IT products. "This project is of value to us, as it uses advanced technology and develops them independently. This is a very high-quality project in a hot, high-demand industry for investors," added Magomed Askhabov, Head of the Alternative Investments Department at VTB Capital Investments.
Otkritie Bank's subsidiary, Otkritie Capital, which carries out investment projects with leading Russian companies and rising stars, provided financing to Whoosh.
"We are very pleased to collaborate," says Timur Khamraev, vice president of the bank, general director of Otkritie Capital, "and we are pleased to invest in a dynamically developing technology company with a professional team that improves the quality of life in a big city and we wish them great success."
In 2021, Whoosh will increase its fleet of e-scooters in cities where it is already present, including Moscow, St. Petersburg, Yekaterinburg, Novosibirsk, Kazan, Ufa and others, and will also launch the service in more Russian cities. Part of the investment will be spent on purchasing ultra-modern e-scooters, installing our own equipment on them and putting them into use.