Taiwan e-bike start-up Gogoro raises $300m, lists Temasek among its investors

Taiwanese electric scooter maker Gogoro has raised $300 million (S$403 million) for its series C round from investors including Singapore’s Temasek Holdings, to pay for expansion and research and development.

Other investors include London-headquartered Generation Investment Management chaired by former US vice-president Al Gore, Japan’s Sumitomo Corp, and French electric utility company Engie SA.

Gogoro was founded in 2011 by former HTC honchos Horace Luke and Matt Taylor, and it had previously raised two rounds of funding which came up to $170 million.

The latest round brings the company’s valuation to more than $800 million, said Luke in an interview with Forbes.

The company started selling scooters in 2015, and brought them as well as its network of charging stations to Amsterdam. It has also since expanded its reach to Berlin and Paris, where it has 1,600 bikes now, reported TechInAsia.

The company has sold over 30,000 scooters to date.