Monday, May 16, 2022

Israeli Mobility Company GoTo Global takes over scooter sharing Startup Emmy

The Israeli company GoTo Global Mobility is taking over the Berlin-based electric scooter sharer Emmy.

GoTo Global Mobility wants to make Emmy’s electric mopeds the core of a multimodal fleet of cars, vans, electric mopeds, electric scooters and e-bikes, all of which can be booked via an app. Customers should be able to make use of this offer from the middle of next year onwards. The acquisition is meant to expand GoTo Global’s European presence to reach its goal of expanding to every major European city by 2025.

Go To Global has said it was particularly interested in the 300,000 existing customers of the Berlin-based provider. Emmy is currently active in three cities with around 3,000 electric mopeds in Berlin, Munich and Hamburg.

For Emmy’s existing customers, the acquisition will be evident from 2022 onwards in the form of an expanded, multimodal offering.

Emmy’s Electric Scooter

The takeover price was not revealed but Handelsblatt quotes Gil Laser saying that the German Emmy team and its founders Valerian Seither and Alexander Meiritz are going to implement the conversion to the Go-To model in the three Emmy cities and then also lead the expansion into the Netherlands, keeping the existing crew onboard.

The zero-emission German company Emmy was founded in 2015.

Emmy Scooter Sharing Ad (in German)

GoTo Global is currently active in Israel, Spain and Malta. After Germany, the Netherlands, the company is going to add Portugal and Italy to the list. The Israeli company says it is aiming to become the market leader in Europe for multimodal sharing offers. The company is expecting this to be profitable, saying that GoTo Global’s revenue should double to $50 million in 2022 and reach $116 million by 2023.

See also  Odin Automotive acquires StreetScooter

GoTo Global has been around since 2008, with 200 employees and 5,000 vehicles in Israel, Spain and Malta to date. The Israeli company has developed a proprietary app to book various vehicles. GoTo has Memorandums of Understanding with Renault, Toyota, Nio and Segway.

Prior to the acquisition, GoTo Global secured $22.5 million in a Series B funding round. Currently, the next investment round is already underway to finance further expansion in Europe.

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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