Cogo, the service that collects all shared vehicles in one app, raises €1 million from PreSeed Ventures and high-profile business angels, such as momondo’s former CEO, Pia Vemmelund, the early investor in momondo Jens Willumsen, and the investor Thomas Weikop. The Innovation Fund in Denmark has also awarded Cogo their Innofounder-grant.
Copenhagen-based startup was founded in 2020 by Robin Eriksson and Bibi Blomqvist, both former high-ranking managers of the travel site momondo, who recently expanded their founding team with Martin Røssell as CTO, momondo’s co-founder.
Pia Vemmelund, Investor and Board member of Cogo, on the investment: “I believe in the team and there are many similarities between the upcoming Cogo trip and the trip that the team and I had with momondo. With a higher purpose that I support, a team I trust and a market with very promising future prospects, it was an easy decision to invest and support Cogo. I really look forward to working with this team again.”
Alexander Viterbo-Horten, Investment Director of PreSeed Ventures, on the investment: “We have heard thousands of entrepreneurs pitch and after investing in 400 of them, we know that in the earliest stages, it is the team that distinguishes the best from the rest. It’s exceptional to see a founding team like Cogo’s. Their experience from building momondo from the ground up to an acquisition of almost SEK 5 billion from Booking Holdings will be a great advantage when we grow. The results they have proven with Cogo in such a short time are very impressive.”
Cogo is changing the booming mobility market and its goal is to solve the transparency and infrastructure problems while unleashing the full potential of shared mobility. The market for shared mobility has exploded in an extremely short time. Today, it is valued at €6 billion but is estimated to be worth over €435 billion by 2030.
There are hundreds of mobility operators across Europe, and there are often so many opinions. The rapid development has led to a fragmented market where rules and infrastructure have not had time to keep up, while users have no transparency in price, availability or service terms.
“We have previously helped millions of users find and compare the best flight and travel offers and we are now taking our experience from momondo to the market for shared mobility. With Cogo, we strive to unleash the untapped potential of this new industry. The major problems for users and politicians stop the many benefits of switching from private cars to shared mobility, which can reduce traffic jams and, most importantly, reduce CO2 emissions. We are convinced that Cogo will have a positive impact on the market in the future,” – Robin Eriksson, co-founder of Cogo.
The Cogo app was launched last year, in the middle of the Corona pandemic, and the app searches over 160 mobility operators for manual or electric scooters, bicycles, cars and mopeds. Cogo is currently available in 9 languages (Danish, English, French, German, Italian, Norwegian, Portuguese, Spanish and Swedish) and its free services can be used in over 500 cities worldwide.