Urban autonomous mobility systems
Introduction
Goggo Network is a company with offices in Madrid, Berlin and Paris, dedicated to the creation of autonomous mobility networks in different cities in Europe. It was founded in 2018 by Martín Varsavsky and Yasmine Fage, who currently serve as executive director and director of operations, respectively.[1].
The objective of Goggo Network is to operate fleets of autonomous vehicles in Europe and help the governments of the countries to create a licensing system for the operation of said vehicles.[2] In September 2021, the company launched initial tests of the first autonomous food truck on the streets of Spain,[3] and at the end of that year it presented an autonomous delivery robot in collaboration with the company Glovo, which began operations in Madrid in February 2022.[4].
History
Beginnings and first round of investment
The company was created in July 2018 in Madrid by businessman Martín Varsavsky, recognized for having founded companies such as Jazztel, Eolia, Overture Life, Barter Energy and VAS Ventures, and by Yasmine Fage, former associate of the consulting firm McKinsey & Company. Given the modification of the mobility law regarding the regulation of autonomous vehicles in France (2019), the company decided to start operations in that country.[2] In January 2020, the company managed to raise 24 million euros from investors Axel Springer and SoftBank in a Series A financing round. These funds were used to start work in Germany and reinforce its presence in Spain and France.[5].
SPAC launch and launch of the first autonomous food truck
In March 2021 it was announced that the SPAC Levere Holdings, formed by Goggo Network and led by Varsavsky and Fage, would list on the NASDAQ stock market under the symbol LVRAU. In the operation, which raised $250 million, Deutsche Bank and Citigroup acted as main guarantors.[6][7] A month later, French media announced the company's participation in the 5G Open Road project, a government initiative with the aim of "deploying a 5G network on the Saclay plateau to define a complete model for connected mobility services in different configurations."[8].