Bolt Receives KSh5.6 Billion for RD Strategies

Bolt Receives KSh5.6 Billion for RD Strategies

Taxi hailing company, Bolt, has received KSh5.6 billion from the European Investment Bank (EIB), funding that seeks to improve the company’s research and development strategies.

Some of these strategies include improving their mobility technology, as well as efficiency in some of their already existing services, including but not limited to food delivery.

We will invest in improving and expanding our ride-hailing technology as well as personalised mobility services like food delivery. We are thrilled to have the European Investment Bank join the ranks of our backers as this enables us to move faster towards serving many more people in Europe and across the world.

Martin Villig, Bolt’s co-founder

This comes even as the firm has achieved milestones in ensuring safety, reliability and sustainability of its business. This includes the introduction of the SOS button and Share your ETA features, which links drivers on Bolt trips with medical and/or security emergency response team(s) at the tap of a button and allows consumers to share their live trip details, respectively.

Bolt is an Estonian ridesharing company founded and headquartered in Tallinn, Estonia. It develops and operates the Bolt mobile application, which allows people to request a taxi or private driver from their smartphone, as well as electric scooters and food delivery services.

As of December 2019, Bolt operated in 35 countries in Europe, Africa, North Africa, West Asia, North America and Australia.

See Also:

Bolt Expands Services to Meru, Embu, and 5 Other Kenyan Towns

NTSA Caps Ride-Hailing Companies’ Commission at 15%

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