Other Private Equity/Strategic Investments
Hero MotoCorp to co-invest in Taiwanese battery swapping firm Gogoro
New Delhi-based, publicly listed two-wheeler maker Hero MotoCorp has joined a PIPE (private investment in public equity) investment in Guishan, Taiwan-based Gogoro and Poema Global Holdings, along with activist and impact investment firm Engine No 1. This brings the total funding in Gogoro to USD 285 million, up from USD 257 million. While Gogoro Inc is a tech firm engaged in developing battery swapping ecosystems, Nasdaq-listed Poema Global is a special purpose acquisition company (SPAC). The existing PIPE round is funded by investors including strategic partners Hon Hai (Foxconn) Technology Group and GoTo Group, the largest technology group in Indonesia, Gogoro vehicle partners, and new and existing financial investors including Generation Investment Management, Temasek as well as Gogoro's founding investor, Samuel Yin of Ruentex Group.
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