Elmo Raises Up To €2.6M
Summary
The company intends to use the funds to speed up the licencing of remote control technology in foreign markets, grow the team necessary for the development of next-generation technologies and to prepare new eco-sustainable remotely controlled cars and take them to public roads. Led by Enn Laansoo Jr., Founder and CEO, Elmo is a company whose main field of activity is the development of technology for remotely controlled cars and the provision of eco-friendly car-sharing services. Remotely controlled cars have become a daily service on the streets of Tallinn as well as Tartu. For the purpose of licencing the technology, Elmo’s remotely controlled cars have been driven and introduced to customers in the streets of Paris, Munich, Hannover, Zurich, Vienna, Helsinki, Los Angeles and many other big cities. By today, there are ongoing negotiations with more than 50 customers interested in the licensed technology and preliminary work is in process to start driving on the public roads of at least two foreign cities this summer.