Elmo develops remotely controlled electric cars and provides an eco-friendly car-sharing service. Led by Founder and CEO Enn Laansoo Jr., the Tallinn-based company has deployed road-legal remotely controlled cars and licensed drivers into real-life car-sharing services in Tallinn and Tartu. Its vehicles and licensing process have been demonstrated in cities including Paris, Munich, Hannover, Zurich, Vienna, Helsinki and Los Angeles. Elmo says it is negotiating with more than 50 customers interested in licensed technology and is preparing to start driving on the public roads of at least two foreign cities this summer. The company raised up to €2.6M from investors including Highgoal Capital Management, FlyCap, Barolo Invest and SAGGIS. It intends to use the funds to accelerate licensing in foreign markets, grow the team for next-generation technology development, and prepare new eco-sustainable remotely controlled cars for public roads.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2023