The Dutch electric scooter company Etergo spent much of the last year shopping itself around for new funding options. Now we’ve learned that Indian EV company Ola Electric Mobility has acquired Etergo.
Etergo had been valued at as much as $90M after its last funding round, but was apparently sold at a loss to Ola, according to Etergo’s CEO Bart Jacobsz Rosier.
The final purchase price hasn’t been disclosed, as Rosier explained to Cleantechnica:
I am not allowed to disclose the exact purchasing price, but it was at a significant loss and we felt that we needed to give away all of our entitlement from the purchasing price to all the investors, including all the crowdfunders
Ola originally began as a ride-hailing service before spinning-off its current operations in the EV industry as Ola Electric Mobility in 2019.
The company has already been working on its own electric scooter, but will now have access to Etergo’s advanced technology, which Rosier says will be combined with Ola’s current electric scooter developments - Link
Ola originally began as a ride-hailing service before spinning-off its current operations in the EV industry as Ola Electric Mobility in 2019.
The company has already been working on its own electric scooter, but will now have access to Etergo’s advanced technology, which Rosier says will be combined with Ola’s current electric scooter developments - Link
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