Superpedestrian, the e-scooter startup known for its self-diagnostic software, is shutting down its U.S.-based shared scooter operation on December 31 and exploring a sale of its European business, TechCrunch has exclusively learned.
The company’s director of U.S. operations, Alexander Berg, confirmed the news to his team Friday afternoon on a Zoom call. Berg said the reason for the shutdown was financial, but did not go into further detail. “Even our investors have put in money to keep us afloat even to this point,” he said on the call. “It wasn’t for lack of trying.”
The shutdown comes just 18 months since the startup raised $125 million in a Series C round of equity and debt financing that included investors Jefferies, Antara Capital, the Sony Innovation Fund by IGV and FM Capital alongside existing backers like Spark Capital, General Catalyst and Citi via the Citi Impact Fund.