Sep 30, 2017

Gogoro raises $300 million for its battery-swapping technology

Posted by in categories: sustainability, transportation

Gogoro, which wants to redefine urban transportation to make it more sustainable, announced today that it has raised a whopping $300 million to further its mission. New investors Temasek, Al Gore’s Generation Investment Management, Sumitomo Corporation, and ENGIE joined existing investors Dr. Samuel Yin, founder of the Tang Prize and chairman of Ruentex Group; Panasonic; and others.

Based in Taipei, Taiwan, Gogoro developed a cloud-powered battery-swapping network called the Gogoro Energy Network. The aim, according to cofounder and CEO Horace Luke, is to build an infrastructure model to power electric mobility.

“The smart connected infrastructure focuses on optimizing the Gogoro Energy Network to make sure that customers always have access to charged batteries,” Luke said in an interview with VentureBeat.

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