Electric scooter maker Gogoro raises $300 million for growth

Electric scooter maker Gogoro raises $300 million for growth

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Gogoro which is an Electric Scooter making company. It has just raised a Series C funding round of $300 Million, which is a really massive one. The company will be using the funding collected in this round purely on its growth.

About Gogoro:

Gogoro has been selling electric scooters in its native country Taiwan since 2015. Whereas in the Europe it provides these scooters on a short-term rental basis. In Berlin, France, Germany and Paris, it has been providing 1,600 scooters. These scooters are provided to the Bosch Subsidiary Coup, who offers on-demand sharing services in these countries. Gogoro has claimed today, that it has sold over 34,000 scooters. With rental efforts and the self-driving purposes combined, the customers have been able to ride about 100 million KMs up till now. This has played a vital role in saving around 1.4 million liters of gasoline, which would’ve been consumed if the company had not come up with the idea of electric scooters.

Future Plans:

The company hasn’t said anything yet about the future plans. But as far as the interest of the investors and the latest round of funding is concerned, it is quite clear that it might be expanding in Europe and also moves into Japan and Southeast Asia. The latest round of funding has come from Singaporean Sovereign Fund Temasek. The London-based Generation Investment Management, Japan’s Sumitomo Corporation and France’s ENGIE which is an energy firm has also contributed in this round of funding. So it is quite clear that this service will further grow in Europe and will get introduced in Japan and Southeast Asia as well.

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