Moove files for insolvency

The start-up wanted to score with fully electric vans. However, the application is not expected to be the end of the company, which was founded in 2018.

The start-up Moove has filed for insolvency. The Aachen-based start-up, which specializes in the "last mile," apparently filed the application back in October and has now been assigned a provisional insolvency administrator. He is now expected to realign the Aachen-based company, which was founded in 2018, in order to ensure its continued existence. The start-up has so far been working on a fully electric van for the courier and logistics market and a fully electric minibus for passenger transport.

Actually, things haven't been going badly for Moove lately. As recently as December 2021, the start-up had secured millions in financing and this year still brought in Günter Butschek as CEO. The top manager had previously worked at Daimler and Airbus and was supposed to lead the 90-person team into the future. Now the setback followed. According to a press release, "After successful completion of the concept phase and pre-series, which form the basis for series development, and great interest from potential investors, Moove was most recently hit by recent developments on the financial market."

Nevertheless, people in Aachen believe there is a future. The insolvency administrator said, "We see a highly innovative company here, whose developments are close to market maturity, and we will do everything we can to attract new investors via a viable restructuring concept."

RWTH Aachen University professor Günther Schuh and his team founded Moove in 2018, when the startup was a joint venture between E.go Mobile and Zukunft Ventures, a subsidiary of ZF Friedrichshafen. Since October 2021, Moove has been an independent company.