Taiwanese electric scooter startup Gogoro is rumored to be on Wall Street soon. The company will debut on Nasdaq after joining Poema Global (PPGH).
The deal gives Gogoro a valuation of around US$ 2.35 billion, three times more than the previous valuation.
The Taipei-based company has raised at least $335 million in fresh funds and its shares will begin trading under the symbol name GGR.
Gogoro was founded in 2011 by Horace Luke who previously worked in product strategy for the XBox at Microsoft (MSFT) and at electronics giant HTC.
Gogoro is one of Apple’s largest suppliers and is backed by Foxconn and Temasek.
Gogoro sells its electric scooters and is supported by a battery exchange service that reaches thousands of stations that allow riders to easily swap scooter batteries quickly.
Its largest market is in Taiwan, where Gogoro has a 97 percent share of the electric two-wheeled vehicle market.
Gogoro is now expanding into the international market and is working on at least six cities in mainland China, one city in India, and another in Jakarta next year.
In China, Gogoro has collaborated with two leading two-wheeler manufacturers, namely Dachangjiang Group and Yadea.
Meanwhile in Southeast Asia, Gogoro has joined forces with Gojek, an Indonesian online transportation service provider, in a pilot scheme for smart scooters.
