Start-up e.Go gets millions

First insolvency, then takeover, now a new round of financing: 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 sky, but then suffered a number of setbacks and even had to file for insolvency last year. But the Dutch investment firm ND Industrial Investments was able to avert the end by taking over the majority shares of the hopeful company.

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. Investors include Formula E founder Alejandro Agag and US actor Edward Norton, who will also be a future brand ambassador for the electric runabout.

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