Total amount raised
€1.8 Million
Latest funding date
09/01/2022
Location
Cogo has raised funding over two Seed rounds, attracting a diverse group of investors including Johan Elwin, PSV (PreSeed Ventures), EIT Urban Mobility, and Morph Capital. The app aggregates shared scooters, bikes, cars, and mopeds into one seamless platform, simplifying urban mobility.
Keep reading to explore the intricacies of Cogo's fundraising journey and the investors backing this innovative platform.
What Is Cogo?
Cogo is a mobility app based in Copenhagen, Denmark, that aggregates shared scooters, bikes, cars, and mopeds into one seamless platform. The company aims to simplify urban transportation and promote greener cities by offering intelligent price comparisons and integrated ride and payment options.
Founded in an unspecified year, Cogo operates with a small team of 11-50 employees. The app covers 500,000 vehicles from 300 mobility operators in 700 cities worldwide, making it a comprehensive solution for urban mobility needs.
How Much Funding Has Cogo Raised?
- Seed Round
- Amount Raised: EUR 800,000
- Date: September 2022
- Lead Investors: EIT Urban Mobility, Morph Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue Cogo's expansion, fuel product development, and introduce new features such as in-app payments and the ability to unlock vehicles within the app.
- Pre-Seed Round
- Amount Raised: EUR 1,031,290
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial expansion and development efforts.
Total Amount Raised: EUR 1,831,290
Current Valuation: Not publicly disclosed
Key Investors
- EIT Urban Mobility
- Details: EIT Urban Mobility is an initiative of the European Institute of Innovation and Technology (EIT) focused on urban mobility solutions. It aims to accelerate the transition to more sustainable and liveable urban spaces.
- Investment Focus Areas: Urban mobility solutions, sustainable transportation, smart cities.
- Notable Investments: Not publicly disclosed.
- Morph Capital
- Details: Morph Capital is a venture capital firm that invests in innovative technology startups. It focuses on early-stage companies with high growth potential.
- Investment Focus Areas: Technology, innovation, early-stage startups.
- Notable Investments: Not publicly disclosed.
- PreSeed Ventures
- Details: PreSeed Ventures is a venture capital firm that invests in early-stage startups. It provides funding and support to help companies grow and scale.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
- Johan Elwin
- Details: Johan Elwin is an angel investor known for backing innovative startups. He has a keen interest in technology and mobility solutions.
- Investment Focus Areas: Technology, mobility solutions, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Pia Vemmelund
- Details: Pia Vemmelund is the former managing director of Momondo and an angel investor. She has extensive experience in the travel and technology sectors.
- Investment Focus Areas: Travel, technology, early-stage startups.
- Notable Investments: Not publicly disclosed.
What's Next for Cogo?
With the European micromobility market projected to reach €70 billion, Cogo stands at the cusp of significant growth. The recent acquisition of eScoot has expanded its reach in Central Europe, positioning the company to capitalize on the increasing demand for shared mobility services. The development of new features like in-app payments and vehicle unlocking will further enhance user experience and drive adoption.
Future fundraising opportunities appear promising as the market continues to grow. Investors are likely to be attracted by Cogo's expanding user base and innovative features. However, the company will need to navigate regulatory challenges and intense competition from other micromobility operators. Continuous innovation will be key to maintaining its competitive edge and achieving long-term success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Cogo and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
