Edison Partners sells Zagster to Superpedestrian
Growth equity firm Edison Partners has sold portfolio company Zagster, a shared micromobility and fleet operations management company, to Superpedestrian, a Boston-based mobility engineering and technology company founded by urban transport experts from MIT.
Edison Partners also announced leading a new USD15 million investment in Superpedestrian, joined by existing investors Spark Capital and General Catalyst. The new growth capital adds to the USD20 million in financing announced by Superpedestrian in November 2019 to support the rollout of its scooter fleet.
“The combination of Superpedestrian with Zagster creates the first fully integrated micromobility company. One that includes product, manufacturing and supply chain as well as professional fleet operations, government and community relations,” says Daniel Herscovici, Partner, Edison Partners, who led the investment and joins Superpedestrian’s board. “We are excited to bring to life our vision for Micromobility 2.0. I believe there remains a significant opportunity to improve the consumer experience, the relationship with the communities we serve, and deliver a world-class solution anchored in safety and compliance. Superpedestrian’s LINK scooter share will have the benefit of owner economics for the entire platform from the micromobility vehicle to on the ground operations.”
“Zagster’s fleet operations business and unique experience running a complex micromobility network across top cities is a natural complement to our mission to make cities safer and more productive with intelligent e-scooters and shared micromobility vehicles,” says Superpedestrian CEO Assaf Biderman. “We’re thrilled to have the backing of Edison Partners, who shares our vision for the next generation of personal mass transit.”