Mobility technology company Mayten has acquired shared mobility aggregator Cogo to expand its software offering for shared mobility.
The acquisition is part of Brussels-based Mayten’s MobilityFabric brand, which includes software solutions designed to enable shared mobility companies to focus on their core operations and reduce research and development costs.
This comes after Danish company Cogo recently filed for insolvency despite having secured €1.9 million from investors including PreSeed Ventures, Morph Capital and EIT Urban Mobility.
“Shared mobility has seen rapid growth over the past few years, backed by venture capital funding, but the barriers to entry for small operators remain high,” Maten founder and CEO Pravin Joel Jones told Zag Daily. “We plan to expand Kogo’s current offering to enable small operators with just a few scooters or e-bikes to launch shared mobility projects at low cost.”
Cogo, which launched in 2020, helps users compare shared mobility services across 70 cities and 700 countries, with more than 300 operators on its platform. Mayten plans to expand the service to help shared operators achieve profitability.
The acquisition includes all of Cogo’s assets, including its digital assets, internet protocols and brands, but does not include staff, hardware or Cogo’s headquarters.
“The past few years have been testament to the huge demand for shared mobility, and particularly shared micromobility, and there are many examples of lean, EBIT-positive companies around the world, such as Ryde and Swing. Over the next five to 10 years, we expect VC-funded companies to become even leaner than they are today, and we will also see new shared mobility companies emerge.”
Miten also develops hardware for shared and personal mobility, and at this year’s MicroMobility Europe conference the company unveiled a microcar that it plans to launch within the next one to two years.
