Tier Mobility lays off 180 employees

AXA-backed TIER Mobility is laying off 180 people – approximately 16% of its workforce.

In a LinkedIn post, Tier CEO and co-founder Lawrence Leuschner shared that the company had to respond to the current economic and funding climate. He further stated that Tier is continuing to reduce the number of projects and business lines it is focused on in order to accelerate its path to profitability.

Last October, Tier closed a $200 million Series D round led by SoftBank Vision Fund 2 and Mubadala Capital at a $2 billion valuation.

Founded in 2018, the Berlin-based startup offers e-scooters, e-bikes and e-mopeds in ~21 countries. Earlier this year, it entered North America.