• Cogo

Cogo raise additional capital to continue European expansion

Updated: 6 days ago

Cogo continues to grow and expand its services to simplify the shared mobility industry. The

Copenhagen based company helps users to find and compare electric scooters, bikes, mopeds

and cars in more than 700 cities. With the latest investments the company will expand its

market reach and provide new exciting services.

The European shared-mobility market is valued at about €70 billion today and it is projected to reach

up to €200 billion by 2030. There are hundreds of companies to choose from in Europe and the rise of

shared mobility brings huge potential for more efficient and greener travel alternatives, however the

success of the industry has also brought limitations. Some cities are now hosting over 20 different

mobility operators, and 34% of users state the necessity to download, register or sign up for the

relevant apps as a barrier to use.


Cogo was founded with a desire to combat the accessibility barrier of shared transport solutions and

make it easier for people to use environmentally-friendly rides. Since launching in July 2020, Cogo has

quickly become the leading shared mobility aggregator in Europe, covering 250 different operators in

700 cities, including Berlin, Madrid and Paris. The demand and fast rise supports research suggesting

84% of respondents would use shared mobility more if they could have access to all operators in one

app.

Robin Eriksson, co-founder/CEO Cogo: “We have quickly expanded our footprint across Europe and have gathered data from nearly 1 million users in over 100 countries, so we are very familiar with what users want. We are very pleased that we have secured additional funding to fuel our product development and unleash the full potential of shared mobility.”

Cogo’s potential continues to be recognised and the company has successfully raised an additional

€800,000 in funding where both new and current investors are participating. New investors are Morph

Capital, EIT Urban Mobility, leading executives from Valtech/eCapacity and eTraveli (Per Rasmussen,

Sven-Eric Nilsson, Andreas Petersson and Johan Elwin), previous investors are PreSeed Ventures and

momondo’s former Managing Director Pia Vemmelund. The company has to date raised a total of

€1,900,000 in two funding rounds.

Alexander Viterbo-Horten, General Partner of PreSeed Ventures’ fund, PSV Tech01: “When we made our first investmet in Cogo 1,5 years ago, it was because we saw a team with not only a strong passion for solving an issue that is affecting our society in so many different ways, but also a unique constellation of background experience and know-how. Although Cogo’s mission was very ambitious, we saw some true potential in the founder team. There’s no doubt about they have the drive to become a global market leader.”

Offering a better way to access and compare shared mobility is vital at a time when environmental and

financial concerns are growing. Cogo will utilise the capital to develop their app further, allowing users

to not only find and compare shared electric scooters, bikes, mopeds and cars but additionally unlock

the vehicles and pay for their trips within it, making it frictionless for individuals to use shared mobility

solutions that are accessible, affordable, clean, and convenient.

Yngvi Karlson, General Partner Morph Capital: “We are impressed by how far Cogo has come in a short time and we love their team and traction. As we have a personal understanding of the problem they solve, we are very pleased to join forces and support their mission to improve the world’s cities.”

About Cogo:

Cogo is the leading shared mobility aggregator in Europe, allowing users to search for shared electric

scooters, bikes, cars and mopeds, compare prices and find the best option for their trip. With the

ambition of creating a more environmentally friendly world, Cogo gathers shared rides to enable

frictionless mobility and a better tomorrow. Launched in 2020, Cogo includes more than 250 shared

mobility operators in their app, which can currently be used in more than 700 cities worldwide. Cogo

supports ten languages (Danish, Dutch, English, French, German, Italian, Norwegian, Portuguese,

Spanish and Swedish). It’s free to use and can be downloaded to iOS and Android.

About PreSeed Ventures:

For more than two decades, PreSeed Ventures has scouted, mentored and funded Danish success

stories like Vivino, Trustpilot and Lunar. They have ventured into the future alongside more than 400

founders ranging from the brilliant to the slightly mad and supported their personal, collective and

professional growth. It is fair to say PreSeed Ventures is among the most notable early-stage investor

in the Danish tech community, which today is thriving more than ever.

About Morph Capital:

Morph Capital invests in founders and co-creates companies to help them reach the next level faster.

As a team of experienced entrepreneurs, who have all started and sold companies, our experience and

expertise is used to help other founders. Morph Capital's investments include Scaleup Finance, Butter

and Hyphen and we take a hands-on approach to the companies we invest in to advise and empower

them on their road to success. Through actively working with the companies we invest in, we ensure

they’re supported at every stage of their journey, in matters ranging from legal needs to product

growth.

About EIT Urban Mobility:

EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of

the European Union, aims to accelerate solutions and the transition towards a user-centric, integrated

and truly multimodal transport system. As the leading European innovation community for urban

mobility, EIT Urban Mobility works to avoid fragmentation by facilitating collaboration between cities, industry, academia, research and innovation to solve the most pressing mobility challenges of cities.

Using cities as living labs, its industry, research and university partners will demonstrate how new

technologies can work to solve real problems in real cities by transporting people, goods and waste in

smarter ways. For more information visit www.eiturbanmobility.eu.