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Kul Bhushan · · 1 min readTaiwanese e-bike startup eyes US listing via SPAC merger next year
“Gogoro is going public. The company, which is best known for its electric Smartscooters and swappable battery infrastructure, announced today it will list on Nasdaq through a merger with Poema Global, a SPAC affiliated with Princeville Capital,” TechCrunch reported.
Details:
- The merger, which is likely to be closed in the first quarter of 2022, could give the startup an enterprise value of US$2.35 billion.
- Gogoro aims to receive US$550 million in proceeds from the deal. The startup will use the capital to develop its technology and expand its base in China, India, and Southeast Asia.
Dive deeper:
- The 10-year-old firm’s technology suite includes smart swappable batteries, a network of charging stations, and cloud-based software to track the health of batteries.
- In May, the Taiwan-based company announced a partnership with China’s top motorcycle firms, Dachangjiang Group and Yadea. Before that, the startup had teamed up with India’s Hero MotoCorp to set up a battery-swapping network in the South Asian country.
Editing by Collin Furtado and Arpit Nayak
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