Edison Partners, a Princeton-based growth equity firm, announced on Thursday the sale of its stake in Zagster, a shared micromobility and fleet manager, to Superpedestrian.
Edison also said it will lead a new $15 million investment in Superpedestrian, the Boston-based mobility engineering and technology company, along with existing investors Spark Capital and General Catalyst.
“The combination of Superpedestrian with Zagster creates the first fully integrated micromobility company. One that includes product, manufacturing and supply chain as well as professional fleet operations, government and community relations,” Daniel Herscovici, partner, Edison Partners, who led the investment and will join Superpedestrian’s board, said.
Since 2019, Superpedestrian and Zagster have partnered on a U.S. e-scooter share program in Fort Pierce, Florida. The new capital will allow for the expansion of scooter fleet in other markets.
“Zagster’s fleet operations business and unique experience running a complex micromobility network across top cities is a natural complement to our mission to make cities safer and more productive with intelligent e-scooters and shared micromobility vehicles,” = Superpedestrian CEO Assaf Biderman said. “We’re thrilled to have the backing of Edison Partners, who shares our vision for the next generation of personal mass transit.”
