Estonian transport service company Bolt announced on August 2 that it has closed its largest ever funding round, raising €600mn and increasing Bolt’s valuation to more than €4bn.
The funds were raised from a range of investors including Sequoia, Tekne, and Ghisallo, G Squared, D1 Capital, and Naya, Bolt said.
According to the company, the funds will be used to boost Bolt's new 15-minute grocery delivery service, Bolt Market, and accelerate the company's expansion of existing mobility and delivery products.
Bolt, formerly known as Taxify, was founded in 2013 by Markus Villig and operates the Bolt mobile application, which allows people to request a taxi or private driver from their smartphone. It was also the first ride-hailing platform to launch electric scooter rental via its app.
In addition to its core ride-hailing product, Bolt now offers a car-sharing service, Bolt Drive, and scooter and e-bike sharing. The company's delivery services include Bolt Food, which enables customers to order meals from restaurants, and the most recent addition to Bolt’s ecosystem is a 15-minute grocery delivery service, Bolt Market.
Bolt Market will be launched in 10 European countries over the next few months, including the Baltics and Central Europe, Sweden, Portugal, Croatia, and Romania.
Bolt's various services are used by 75 million people in more than 45 countries around the world.
Bolt is one of Estonia's seven unicorns – startups with a value of more than $1bn.