Bolt has successfully raised $2 billion over 11 funding rounds, achieving a valuation of $8.4 billion. The platform offers a comprehensive suite of mobility services, including ride-hailing, food delivery, carsharing, and micromobility solutions.
Keep reading to explore the intricacies of Bolt's fundraising journey and the investors backing this innovative platform.
What Is Bolt?
Bolt, founded by Markus Villig, is a rapidly growing startup headquartered in Tallinn, Estonia. The company has expanded its services to over 45 countries, including regions in Europe, Africa, and Latin America.
With a mission to build the future of logistics, Bolt offers a diverse range of services such as ride-hailing, food delivery, carsharing, and micromobility solutions. The platform aims to provide fast, convenient, and affordable options for its users.
Employing between 1001-5000 people, Bolt continues to innovate and expand its offerings, making urban mobility more accessible and efficient for millions of customers worldwide.
How Much Funding Has Bolt Raised?
- Seed Round
- Amount Raised: $100,000
- Date: April 2014
- Lead Investors: TMT Investments PLC, RubyLight, Adcash, Toomas Bergmann
- Motivation Behind the Round: Early-stage development and market entry.
- Seed Round
- Amount Raised: $1,400,000
- Date: December 2014
- Lead Investors: TMT Investments PLC, RubyLight, Adcash, Toomas Bergmann
- Motivation Behind the Round: Early-stage growth.
- Seed Round
- Amount Raised: $333,240
- Date: May 2016
- Lead Investors: TMT Investments PLC, RubyLight, Adcash, Toomas Bergmann
- Motivation Behind the Round: Early-stage development.
- Series A
- Date: August 2017
- Lead Investors: Didi Chuxing
- Motivation Behind the Round: Initial scaling and market entry.
- Series B
- Amount Raised: $175,000,000
- Date: May 2018
- Valuation at Round: $1B
- Lead Investors: Daimler
- Motivation Behind the Round: To support the company's growth and expansion.
- Series C
- Amount Raised: $67,000,000
- Date: July 2019
- Motivation Behind the Round: Expansion and development.
- Series C
- Amount Raised: $56,000,000
- Date: January 2020
- Motivation Behind the Round: Growth and operational scaling.
- Series C
- Amount Raised: $109,000,000
- Date: March 2020
- Valuation at Round: $1.9B
- Lead Investors: European Investment Bank (EIB)
- Motivation Behind the Round: Expansion and scaling.
- Series D
- Amount Raised: $182,000,000
- Date: December 2020
- Lead Investors: Darsana Capital Partners
- Motivation Behind the Round: Further growth and development.
- Series E
- Amount Raised: $713,000,000
- Date: August 2021
- Valuation at Round: $4.75B
- Lead Investors: Sequoia Capital
- Motivation Behind the Round: Scaling operations and market expansion.
- Series F
- Amount Raised: $709,000,000
- Date: January 2022
- Valuation at Round: $8.4B
- Lead Investors: Fidelity Investments, Sequoia Capital
- Motivation Behind the Round: To expand its transportation and food delivery super app.
Total Amount Raised: $2 billion. Current Valuation: $8.4 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm known for investing in early and growth-stage companies. It has a long history of backing successful startups that have become industry leaders.
- Investment Focus Areas: Technology, healthcare, consumer, financial sectors.
- Notable Investments: Google, Apple, Airbnb, WhatsApp, LinkedIn.
- Fidelity Management and Research Company LLC
- Details: Fidelity is a financial services corporation known for its mutual funds and investment management. It manages a wide range of investment portfolios for individual and institutional clients.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Facebook, Alphabet.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that focuses on both public and private markets. It has a reputation for participating in significant growth rounds for major startups.
- Investment Focus Areas: Public and private markets across various sectors.
- Notable Investments: SpaceX, Robinhood, Instacart.
- Daimler
- Details: Daimler is a German automaker and a significant player in the automotive industry. It has also invested in various mobility and transportation services.
- Investment Focus Areas: Automotive, transportation technologies.
- Notable Investments: Car2Go, Via, Turo.
- Creandum
- Details: Creandum is a Swedish venture capital firm that invests in early-stage technology companies. It has a strong track record of supporting startups that achieve significant growth.
- Investment Focus Areas: Technology, digital companies.
- Notable Investments: Spotify, iZettle, Klarna.
What's Next for Bolt?
As Bolt looks to the future, the company is poised to capitalize on several significant opportunities. With plans to expand into new geographies and attract more consumers and partners, Bolt aims to build out its 15-minute grocery delivery service, Bolt Market. The company’s ambition to become a "super app" integrating multiple services like ride-hailing, food delivery, and micromobility positions it well in a rapidly growing market.
To support these expansive goals, Bolt may continue to seek additional funding. The rapid growth and diverse service offerings suggest that future fundraising rounds are likely. However, Bolt will need to navigate challenges such as regulatory hurdles, intense competition, and maintaining a sufficient supply of drivers. Despite these obstacles, Bolt's strategic vision and strong financial backing indicate a promising path ahead.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Bolt and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
