Gogoro develops and sells Internet-connected electric scooters and runs a proprietary battery-swapping infrastructure that allows riders to exchange depleted batteries in seconds. The company commands its home market, recording more than 63,000 e-scooter registrations in Taiwan during the first 11 months of 2021—far ahead of any competitor—and has more than 450,000 battery-swapping subscribers. To accelerate international expansion, Gogoro has struck partnerships with major two-wheeler manufacturers such as Hero MotoCorp in India and Yadea in China, enabling those OEMs to build vehicles around Gogoro’s swap technology while co-building local swap networks. Over the past five years the company has generated more than $1 billion in cumulative revenue, yet it remains unprofitable as it invests heavily in scale. Management believes fresh capital will fund new market launches and help the business reach break-even. The company is preparing to merge with Poema Global, a SPAC, which will further bolster its capital base.

Total raised

$1.1B

Funding rounds

6

Latest round

Equity

Latest activity

Jun 2024