On January 10, 2024, Tier and Dott, two leading European micromobility companies, announced that they plan to merge in early March 2024. The companies offer rental services for e-bikes and e-scooters in major cities, a market which has seen rapid growth in recent years. As part of their proposed merger, Tier and Dott will be raising an additional €60 million for the combined business.
However, the merger announcement follows a wave of seemingly backwards events in the sector. For example, before announcing their merger, Tier laid off 22% of its workforce, while Bird, North America’s largest micromobility operator, delisted from the NYSE in September 2023 and announced that it had filed for Chapter 11 bankruptcy in the United States in December 2023.
Despite this, micromobility companies are finding areas to grow in Canada. Changes to legislation in Ontario in 2023 have allowed for micromobility pilot programs to emerge. Bird Canada partners exclusively with cities such as Hamilton, while other cities like Ottawa allow multiple companies to offer shared fleets.
The merger of Tier and Dott represents a broader shift in the micromobility sector. The success or failure of Tier and Dott’s efforts at increasing profitability will influence the direction in which micromobility companies outside of Europe will move to create a sustainable sector.
In March 2026, Whoop Inc. (“Whoop”) completed a Series G funding round for US$575 million, valuing the leading fitness wearable company at US$10.1 billion. Whoop received investment from many notable…
The 2026 FIFA World Cup will showcase some of the most advanced officiating technology ever used in soccer. Building on systems introduced in previous tournaments, FIFA is rolling out new tools…
Recently, the Canadian Investment Regulatory Organization (“CIRO”) approved Wealthsimple to offer forecast contracts. Forecast contracts are investment products that offer investors binary “yes” or…
On June 10, 2026, the federal government introduced Bill C-34, also known as the Safe Social Media Act. The proposed legislation represents a sweeping effort to regulate social media platforms…
The “sleep economy” is growing rapidly with more than just sleep masks, weighted blankets and melatonin products on the market selling a good night’s rest. Sleep technology has evolved from tracking…
Following a multi-year joint investigation, federal and provincial privacy regulators recently published their findings with respect to OpenAI’s collection and use of personal information to train…
