Gogoro, a US-based manufacturer of smart electric scooters for urban use, closed a series B round sized at more than $130m featuring electronics manufacturer Panasonic on Friday.
Samuel Yin, chairman of Taiwan-based retail group Ruentex, led the round, which also included the state-backed National Development Fund of Taiwan.
Founded in 2011, Gogoro produces electric scooters equipped with a motor of its own design, and has so far sold almost 2,000 such scooters and deployed close to 90 charging stations across Greater Taipei, in Taiwan.
The round brought Gogoro’s total funding to $180m, and follows $50m in series A capital supplied by Yin, the company’s largest shareholder, and Cher Wang, co-founder of consumer electronics manufacturer HTC, in 2011.
Gogoro said in September 2014 it was in the process of raising $100m for its series B round. Panasonic, already a supplier of battery cells to Gogoro, is the company’s first strategic investor.
Horace Luke, co-founder and CEO of Gogoro, said: “We are proud to welcome our new investment partners, they share a similar vision for how we can transform and manage energy more efficiently in mega cities.
“Panasonic, the National Development Fund of Taiwan and other new investors are committed to driving positive change in cities around the world.”