sigo
Sigo is a start-up based in Darmstadt that operates shared e-cargo bikes. With its inductive charging stations, the company is one of the first Germany-wide providers of a fully automatic e-cargo bike system.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
$1.0m | Early VC | ||
| Total Funding | 000k | ||
| EUR | 2020 | 2021 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| % profit margin | - | (677 %) | - |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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sigo green GmbH provides a full-service sharing system for e-cargo bikes and e-bikes, operating primarily on a B2B2C model in the German market. The company was originally founded in 2017 by Tobias Lochen, who, not owning a driver's license, was motivated by the personal challenge of transporting goods as a student without a car. The business targets municipalities, the housing industry, public transport operators, and real estate developers as its primary partners. These partners either purchase or rent the bike stations and pay a monthly fee for operations, making the service available to end-users like tenants and the general public.
sigo's offering is a comprehensive package that includes proprietary, robust e-cargo bikes designed for rental, an app for 24/7 access, and stationary, inductive charging stations. This technology allows for contactless charging, ensuring the bikes are readily available without the hassle of cables. The company manages all operational aspects, including the installation of charging stations, customer support, maintenance, and insurance. For end-users, an app displays available bikes and manages the rental process, which begins and ends at a fixed station where billing is automatically handled. This model enhances the appeal of residential areas, contributes to urban traffic calming, and supports climate protection.
The company launched its first station in Darmstadt in February 2020 and has since expanded to numerous cities across Germany. In June 2023, sigo filed for debtor-in-possession restructuring due to a failed financing round amidst rising interest rates. The business was successfully acquired in September 2023 through an asset deal by the newly established sigo green GmbH, backed by investor Felix von Borck, the founder of battery specialist Akasol AG. This transition secured all jobs and placed the company on a stable footing for future growth, now led by CEO Kai von Borck.
Keywords: e-cargo bike sharing, B2B2C mobility, urban mobility solutions, inductive charging, micromobility, last-mile delivery, sustainable transport, shared mobility, smart city infrastructure, electric vehicle sharing, real estate mobility, municipal mobility services, bike rental systems, app-based rental, full-service mobility, Felix von Borck, Tobias Lochen, Akasol, Darmstadt, German mobility