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Goggo Network: €44M for autonomous mobility


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BY : Diego GutiérrezJanuary Mon, 2020

Goggo Network is a German start-up dedicated to the development of autonomous mobility systems.

Created in 2018, among its founders is Martin Varsavsky, who is also the precursor of great and well-known companies such as Jazztel.

Recently, it has sold part of its shareholding to new investors for a value of 44M€.

The fleets, or networks of autonomous cars, began operating in the US in November 2019 by Waymo, a subsidiary of Google.

They are expected to reach the whole of Europe over the next few years.

To this end, companies are already making moves in corporate finance in the sector.

GETTING TO KNOW GOGGO NETWORK

It is a company with a very clear vision: providing autonomous, electric and shared mobility solutions for all people.

All this, through the creation of autonomous mobility networks.

Therefore, it strives to lead the "driverless revolution", to solve the transport challenges of heavy traffic or pollution, among others.

In addition, it is developing the legal and engineering framework for Europe's autonomous mobility networks.

LICENCES IN EUROPE

Gogo Network calls for European governments to speed up their work and create national licensing systems for the operation of autonomous car fleets.

According to the company, this will ensure fair access to mobility for all people, and protect citizens by setting clear rules on security and privacy protection.

The latter is key, as operators will control the flow of millions of passengers and their data.

WHAT KIND OF LICENCES WOULD BE INVOLVED?

The licensing model would be comparable to what the old continent did 30 years ago in telecommunications, when it created the mobile standard. GSM.

Of course, they should be awarded on the basis of quality of service and territorial coverage criteria, but never as an auction.

It should be noted that it is the use of public roads that is licensed, as streets and roads are a scarce resource.

SUPPORT FROM AUTOMOTIVE AND MOBILITY INVESTORS

To boost itself, last December, Goggo Network carried out a sale of its shareholdings in a roundSeries A, to new investors for 44M€.

These are SoftBank y Axel Springer Digital Ventures.

The first is one of the major investors in automotive and mobilityas it is involved in scooter, bicycle and autonomous vehicle ventures.

The second also participates in companies that are reinventing industriesas Airbnb.

OTHER SIMILAR ROUNDS IN THE SECTOR

QEV TECHNOLOGIES

Qev technologies is a of the pioneering companies in electric mobility.

It develops cutting-edge technologies as well as complete vehicles for other automotive companies.

In the last months of 2019, it sold part of its shareholding for 17M€ for its development.

WIND MOBILITY

It is a firm of shared electric scooters which has sold some of its shares in the company, by $50Min its latest Series A funding round.

It operates in Europe, Asia and Israel, and has moved its headquarters from Berlin to Barcelona.

After switching from bicycle rental to electric scooters, Wind Movility has already made another sale valued at 22$M.

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