EIB offers €50m to Bolt in Estonia 

The European Investment Bank (EIB) has signed a €50 million deal to support ride-hailing firm Bolt’s R&D efforts in Estonia. 
By Ben Spencer February 5, 2020 Read time: 1 min
Alexander Stubb (left) and Bolt co-founder Martin Villig (credit: EIB)

EIB says the funding is to support Bolt in areas where its technology can improve the safety and sustainability of its services. This includes investing in its existing services as well as personalised offerings like food delivery, the bank adds.

Bolt’s co-founder, Martin Villig, says the agreement “will enable us to move faster towards serving many more people in Europe”.

EIB’s vice president Alexander Stubb, says the bank’s support will allow Bolt to improve its services and branch out into new service fields. 

The financing is supported by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.
 

Mass Transit & MaaS

For more information on companies in this article

Related Content

  • DriveWyze wireless Preclear system speeds weighstation waiting
    March 1, 2013
    Drivewyze aims to revolutionise the way weighstation bypass systems work with its Pre-Clear system. And it’s not just looking at weighstations, either… Pete Goldin reports. Truck drivers know the drill: pull off the high­way at every weighstation and wait. Carriers know the drill, too: every minute spent waiting there translates directly into dollars lost. Traditionally, the only alternative to this scenario is a transponder-based system, which allows trucks to bypass the sites using technology similar to
    Read More
  • Kapsch offers EETS–compliant Tolling Services
    June 7, 2017
    Kapsch’s Bernd Eberstaller explains how the company’s new Tolling Services will help expand the number and capabilities of EETS services providers. By 2017, the European Electronic Tolling Service (EETS) should have been in operation for several years but it still remains some way away and with several significant hurdles still to be addressed. The concept behind EETS is simple enough: road users should be able to drive across Europe using only a single transponder to pay for all tolls, with the account-han
    Read More
  • Technological convergence offers new challenges and opportunities
    July 25, 2013
    Back in 1999 authorities in the United States set aside a section of the 5.9GHz spectrum for ITS. Times were good back then, economies were booming and we collectively looked forward in anticipation to the 21st century delivering on so many promises including those offered by ITS.
    Read More
  • EVs & smart cities: Tritium keeps things moving
    December 3, 2018
    Electric vehicles are widely expected to play a major role in the smarter, cleaner cities of the future. Paul Sernia explains why – and looks at the place of ultra-rapid chargers as part of a versatile public infrastructure Electric vehicles (EVs) are widely expected to play a major role in the smarter, cleaner cities of the future. With no dirty tailpipe, EVs can help improve the polluted air of inner cities. And when deployed as widely shared assets – through car clubs, ride-sharing services and taxi
    Read More

Highlighted Content