Start-up e.Go gets millions

First insolvency, then takeover, now a new financing round: The Aachen-based start-up has closed a Series B financing round.

The Aachen-based start-up e.Go was once the celebrated star in the German electric car firmament, but then suffered a number of setbacks and even filed for insolvency last year. But Dutch investment firm ND Industrial Investments was able to avert the end by taking a majority stake in the hopeful.

Now there is good news again from the Aachen-based company: the start-up has raised 30 million in a Series B financing round, securing capital for the coming months. Among others, Formula E founder Alejandro Agag and US actor Edward Norton, who will also become brand ambassador for the electric runabout, have invested.

The company was originally founded by RWTH professor Günther Schuh, who has since taken over as chairman of the board of directors. For the coming weeks, the start-up now wants to push production of the e.Go Life model. Initially, there is to be a special edition with a run of 1,000 vehicles, which is to cost just under 23,000 euros.