Is Consolidation Killing Micromobility Startups in Europe?
Paris’ commercial court has given the green light to Cooltra’s acquisition of Cityscoot, marking the latest development in the ever-changing micromobility industry. With interest rates on the rise, the waves of bankruptcies and mergers are causing significant shifts in the market.
Cityscoot, a pioneering electric moped sharing service in Paris, has succumbed to insolvency after failing to secure new funding. This led to a last-minute acquisition by Cooltra, which focuses on integrating Cityscoot’s assets, including its vast user base, into their existing service.
As the landscape of micromobility continues to evolve, it is clear that this is not the last we will see of these kinds of changes. The question remains – will these acquisitions lead to heightened innovation or is consolidation killing micromobility startups in Europe?
