Taylor Wessing advises Goggo Network on € 44 million Series A financing round from SoftBank Group and Axel Springer Digital Ventures

The mobility start-up Goggo Network has completed a Series A financing round of 44 million euros from SoftBank Group and Axel Springer Digital Ventures. Goggo Network aims to license autonomous vehicle fleets and plans to increase its involvement in the target markets of Germany, Spain and France with the capital of the investment round. The international law firm Taylor Wessing, led by Berlin partner Norman Röchert, has advised Goggo Network on all legal aspects of the financing round.

Goggo Network is operating in the field of autonomous driving and intends to establish national licensing models for autonomous car fleets at the interface of the public and private sectors. The aim is to introduce investor-supported licensing systems that will develop and organise the infrastructure for the use of autonomous vehicle fleets. Goggo Network's business model is based on licensing in the mobile communications market, in which telecommunications companies bid for mobile communications licenses as part of a government-initiated competition and subject to certain conditions. Goggo Network was founded in 2018 by Martin Varsavsky, Spanish serial entrepreneur (Jazztel, Eolia, Viatel, Prelude) and French co-founder Yasmine Fage.

The financing round was led by renowned SoftBank Group, one of the most prominent investors in the automotive and mobility sectors, with investments ranging from ride hailing to robotics to autonomous vehicles, with participation of Axel Springer Digital Ventures, the venture capital arm of German media and technology giant Axel Springer. Both companies are now represented on the board of Goggo Network.

Legal Advisor Goggo Network

Taylor Wessing: Lead Dr. Norman Röchert (Partner, Corporate/M&A, Berlin), Dr. Maria Weiers (Partner, Corporate/M&A, Düsseldorf), Dr. Christian Ahrendt (Senior Associate), Stephan Meyer (Associate, both Corporate, Berlin)