Mobility technology company Mayten has acquired shared mobility aggregator Cogo to expand its software offering for shared mobility.
The acquisition forms part of Brussels-based Mayten’s MobilityFabric brand which includes software solutions designed to help shared mobility companies focus on their core operations and reduce R&D expenses.
It comes after Danish company Cogo recently filed for bankruptcy, despite having secured €1.9 million from investors including PreSeed Ventures, Morph Capital, and EIT Urban Mobility.
“Though shared mobility boomed in the last years fuelled by VC funding, the barrier to entry for small operators remains high,” Mayten Founder and CEO Prabin Joel Jones told Zag Daily. “We plan to expand upon Cogo’s current offerings to enable small operators with a few scooters or e-bikes to get started with their shared mobility project at a low cost.”
Cogo, which launched in 2020, helps users compare shared mobility offerings across 70 cities in 700 countries and has more than 300 operators on its platform. Mayten plans to expand on this offering and support shared operators in achieving profitability.
All of Cogo’s assets are included in the acquisition such as digital assets, internet protocol, and brand. It does not include staff, hardware, or Cogo’s headquarters.
“The past years are a testament to the significant demand for shared mobility, particularly shared micromobility, with multiple examples of lean, EBIT-positive companies worldwide like Ryde and Swing. Over the next 5 to 10 years, we anticipate that VC-funded companies will transition to being much leaner than they are now, and we will also see new shared mobility companies emerge.”
Mayten also develops hardware for shared and personal mobility. At this year’s Micromobility Europe conference, it unveiled its microcar set to launch in the next one to two years.
