Berlin-based electric scooter startup Tier Mobility has received an additional investment $ 40 million in its Series B, after the $ 60 million investment it received also in its Series B investment round. Moscow-based RTP Global, London-based Novator and an unnamed US company are the companies that made the recent investment.
Tier Mobility announced that the funds will be used for R&D projects, investments in vehicle development, strengthening the management team, expanding the vehicle fleet and going after merger and acquisition opportunities. The company also plans to expand its team and the areas it operates. Tier Mobility recently bought UK-based Pushme Bikes and incorporated the startup’s team. Founded in October 2018, Tier currently operates in over 40 cities across 12 markets worldwide.
When we look at the operation of electric scooter startups in general, we can say that there is a fee per minute along with the opening fee. Tier Mobility differs from other e-scooters at this point. Although the company charges a start fee, it does not charge any fees while driving. That’s why Tier cares about sustainability and recycling and in this way, it reduces costs.
