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Bolt raises €150M to improve its service quality and safety

Ride-hailing company, Bolt has raised €150 million in funding to improve the safety, security, and quality of its services. This is as it continues to expand its ride-hailing, micro-mobility, and food delivery services in Europe and Africa.

The investments in safety will include features like facial recognition and artificial intelligence tools. The investment was from D1 Capital Partners with the support of Darsana Capital Partners.

Safety is one of the areas we will continue to grow and innovate for the benefit of our customers. We’re planning to launch a more innovative solution, like driver face verification and automatic trip monitoring, using machine learning to prevent potential incidents and ensure the highest quality service for our customers,” said Markus Villig, CEO and co-founder, Bolt.

Mid last year, Bolt raised €100m from London-based Naya Capital Management to boost its growth and development strategy.

The firm had earlier unveiled its 4th generation scooter for its global market and pioneered safety initiatives in the industry, providing a number of ride-hailing safety features in both its rider and driver apps including an SOS button, designed to let users contact emergency services quickly if needed.

The company has also ensured that its safety features are easily accessible from the app’s home screen on the platform to improve the safety and well-being of riders and drivers during a Bolt trip. Additional safety features such as “Share your ETA”, where a rider can share his/her live trip details with emergency contact numbers also ensure safety throughout the lifecycle of the riders’ journey.

The firm’s app now counts more than 50 million users in over 40 countries across Europe and Africa.

Read About: What is Bolt Go, the company’s low-cost service?

Bolt raises €150M to improve its service quality and safety
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