The London Technology Club (LTC), has invested in TIER, a European provider of micro-mobility solutions, as part of a USD250 million fundraising round
Launched in October 2018, TIER has successfully expanded its offer to more than 90 cities across 10 countries worldwide. The investment by LTC members was made through a Special Purpose Vehicle (SPV) offered by White Star Capital.
LTC took part in the Series C funding round, which was led by SoftBank¹, with participation from existing investors Mubadala Capital, White Star Capital, Northzone, Goodwater Capital, Novator and RTP Global.
The European micro-mobility market alone offers a EUR200 billion opportunity – compared to EUR110 billion and EUR90 billion in North America and China respectively. The Covid pandemic has accelerated popularity of e-scooters as consumers shift towards modes of transport that allow people to travel individually and in compliance with social distancing but at the same shift away from private car usage due for environmental reasons.
Source: Private Equity Wire
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.