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
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.”
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,
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
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.