Gogoro charging station raised $300 million Series C

Gogoro raised US$300 million Series C funding led by Generation Investment Management to expand its intelligent energy network. Taiwan-based start-ups established by HTC veterans Horace Luke and Matt Taylor in 2011 increased the total valuation to more than US$480 million where previous funding had raised US$130 million.

Tinuku Gogoro charging station raised $300 million Series C

Gogoro announced it has raised US$300 million for a C-series round led by Generation Investment Management chaired by former US vice-president Al Gore and invested long-term on sustainability, clean energy and mobility projects.

Other investors who participated were Singapore's Temasek, Japan's Sumitomo Corporation, and France's Engie. Existing investors also participated, including Panasonic investor Samuel Yin.

Gogoro builds a network of charging stations called GoStations to support the electric bike's energy needs. Users exchange batteries with rechargeable batteries. The smartphone app shows the nearest battery station and lets the user order the battery.

The service, which includes support and assistance through a subscription fee. Currently, Gogoro has more than 400 stations with more than 34,000 customers in Taiwan.

"The electric vehicle maker looks at how many stations we have and exchanges batteries everywhere. Other industry potentials include logistics and warehousing or industrial applications," said CEO Gogoro, Luke.