Avocargo Layoffs

About

Berlin-based electric cargo bike sharing startup Avocargo has ceased operations and laid off all 16 remaining employees after failing to find a buyer following its February 2023 insolvency filing. The company, which had offered app-based rentals, attributed its collapse to a failed funding round and a difficult market environment for mobility startups, with investors wary of the sharing economy's high losses. Founded a few years prior, Avocargo initially benefited from pandemic-driven demand and political interest in cargo bikes but ultimately could not achieve profitability. The service was officially discontinued on April 3, 2023.

Source

More Transportation Layoffs