ND Group leads financing round for EGo Mobile

Moore Strategic Ventures also invested in the round, alongside individual investors including former US Treasury Secretary John Snow, Formula E founder Alejandro Agag, and actor and Crowdrise founder Edward Norton.

EGo Mobile aims to use the fresh capital to support its future growth, beginning with the start of the production of its EGo Life vehicle from June 2021.

Previous funding
ND Group acquired EGo Mobile in August 2020 following the company's self-administration proceedings, which began in April 2020, as reported. The company said in a statement issued at the time that it had previously been valued at more than €1bn, but did not disclose its latest valuation.

Company
Founded in 2015, EGo Mobile is an electric vehicle producer. It aims to build affordable electric cars for short-distance drives. The company employs 400 staff and is headquartered in Aachen.

People
EGo Mobile – Ulrich Hermann (CEO).
ND Group – Thomas Poplat (M&A manager).

Advisers
ND Group – Oppenhoff, Nefail Berjasevic, Johannes Janning, Günter Seulen, Gunnar Knorr, Marc Krischer (legal).

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• Expansion
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