Voi Technology is one of the pioneers of e-scooter developments. Their products have been launched in tourist destinations throughout Europe, Asia and the USA.
The Swedish company claims that the confusion surrounding Brexit is postponing the potential roll-out of electric scooters for public use in Britain, leaving the country lagging behind as it´s currently against the law to ride them on public roads or pavements.
London´s Olympic Park features the first e-scooter route that has been accepted in the UK. Bird, an American micro-mobility company, established this circuit and was able to do so because it is on private land.
Co-founder and chief executive of the popular green transport firm, Fredrik Hjelm, said that he had been involved in discussions with the UK government regarding current regulations surrounding e-scooters.
Hjelm said: “What we hear and feel is that Brexit is a big reason why things are moving so slowly.”
He continued: “We don’t have any high hopes of getting this through before Brexit, which I think is sad because most other European countries have been quite quick in adapting and trying to find a good regulatory framework.”
Voi Technology has been operating since August 2018 and announced this week that it had raised $85m (£66m) from private investors.
Last year, the company´s primary round of funding received $50m from investors such as Jeff Wilke, chief executive of Amazon´s global consumer business and Justin Mateen, co-founder of dating app Tinder.
Between $1.5m and $2m was generated in sales during its introductory period last year, and it is estimated that Voi will receive revenues in the “tens of millions of dollars” for the current financial year.
Hjelm believes that Voi will make a pre-tax profit by 2021-2022 as it looks to hopefully expand its operations that are currently in 38 cities across 10 countries.