Temasek invests in electric scooter maker Gogoro

New York

GOGORO Inc, a maker of electric scooters backed by Panasonic Corp, has raised US$300 million from Singapore's Temasek Holdings Pte and other investors to pay for expansion and research and development.

Generation Investment Management LLP, co-founded by Al Gore, Japan's Sumitomo Corp, and French utility Engie SA, also invested. The new funding brings the Taiwan-based startup's valuation to about US$800 million, including the new cash injection, according to a person familiar with the matter. That's double the level when it last raised in 2015, the person said.