Gimv has taken a stake in GOVECS together with BayBG as co-investor.
GOVECS is a European manufacturer of e-scooters.
The company’s products range from e-scooters with a top speed of 25 km/h to models capable of up to 85 km/h. In 2011 and 2012, GOVECS scooters were named “European E-Scooter of the Year”.
In addition to Gimv and BayBG, existing shareholders (including the KfW bank and family offices) participated in the round of financing by contributing fresh capital, taking the total to around EUR10m. The new capital is earmarked for strengthening GOVECS’s leadership role in the growth market for e-scooters and in particular for expanding production, development, marketing and sales.
A team led by Stefan-Ulrich Müller advised Gimv on all legal aspects in conjunction with CMS Cameron McKenna, a fellow member of the CMS organisation.
