Electric scooter rental service URent has raised $23.8 million (2.09 billion rubles) from MTS, VPE Capital , VEB Ventures and VEB.RF Group. The terms of the deal and the company's valuation were not disclosed. According to the unnamed sources, URent was valued at $89.1 million (7.5 billion rubles).

The funds are planned to be used to double the scooter fleet, develop the rental infrastructure in new cities, open new service centers, and develop B2B products. In addition, as a result of the deal, URent and MTS will cooperate in the field of hardware, IoT and big data to improve travel safety. MTS will develop a controller with a video recorder for URent.

According to MTS, by 2024 the market for per-minute rental of electric scooters will more than triple, up to $478.4 million (40 billion rubles), while scooters will occupy a large niche in the “last mile” transport, combining technologies at the junction of fintech, IoT, BigData and video analytics.

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