Total amount raised
€1.8 Millions
Latest funding date
Location
Cogo has successfully raised €800,000 in a Seed round on September 8, 2022, with contributions from Andreas Petersson and seven other investors. The platform aggregates shared scooters, bikes, cars, and mopeds into one app, offering users a seamless mobility experience.
Keep reading to explore the intricacies of Cogo's fundraising journey and the investors backing this innovative platform.
What Is Cogo?
Founded in March 2020, Cogo is based in Copenhagen, Denmark. The company was established by Bibi Blomqvist, Martin Røssell, and Robin Eriksson.
Cogo aggregates shared scooters, bikes, cars, and mopeds into a single app, promoting frictionless mobility and sustainability. The app includes 280 mobility operators in 700 cities worldwide.
With a team of 11-50 employees, Cogo aims to make urban transportation more efficient and environmentally friendly.
How Much Funding Has Cogo Raised?
- Pre-Seed Round
- Amount Raised: €1,000,000
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial development and launch of the Cogo app.
- Seed Round
- Amount Raised: €800,000
- Date: September 2022
- Lead Investors: Andreas Petersson, Morph Capital, EIT Urban Mobility
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Cogo's micromobility aggregator app and develop new features such as in-app payments and vehicle unlocking.
Total Amount Raised: €1,800,000
Current Valuation: Not publicly disclosed
Key Investors
- Morph Capital
- Details: Morph Capital is a venture capital firm that invests in innovative startups. They participated in Cogo's seed round, contributing to the €800,000 raised in September 2022.
- Investment Focus Areas: Technology, innovation, early-stage startups
- Notable Investments: Not publicly disclosed
- EIT Urban Mobility
- Details: EIT Urban Mobility is an initiative of the European Institute of Innovation and Technology (EIT) focused on urban mobility solutions. They were a key investor in Cogo's seed round.
- Investment Focus Areas: Urban mobility, transportation, sustainability
- Notable Investments: Not publicly disclosed
- PreSeed Ventures
- Details: PreSeed Ventures is a Danish venture capital firm that invests in early-stage startups. They are an existing backer of Cogo and participated in the latest funding round.
- Investment Focus Areas: Technology, innovation, early-stage startups
- Notable Investments: Not publicly disclosed
- Pia Vemmelund
- Details: Pia Vemmelund is the former managing director of Momondo. She is an existing investor in Cogo and participated in the latest funding round.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Andreas Petersson
- Details: Andreas Petersson is an angel investor who contributed to Cogo's seed round. He is one of the eight investors involved in the €800,000 raised in September 2022.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Cogo?
With the European micromobility market estimated to be worth around €70 billion, Cogo is poised to seize significant opportunities. The recent funding will enable the company to expand its app across Europe, develop new features like in-app payments, and unlock vehicles directly within the app. This expansion could attract more users and investors, setting the stage for future fundraising rounds.
However, Cogo will face challenges such as competition from other aggregators and regulatory hurdles in various cities. Integrating multiple services seamlessly will also be a technical challenge. Despite these obstacles, the company's strategic acquisitions and growing user base position it well for continued growth and potential future acquisitions.
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