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Cangoroo is one of the few startups that is ushering in a new twist to last mile transportation. The Swedish startup has decided to battle out the drawbacks of e-scooters by offering a healthy and sustainable alternative. The shared Pogo sticks are aimed at offering commuter a fun way of last mile transportation. Cangoroo is gearing up for a summer launch and the app-enabled Pogo stick will be launched with the “jump into the future” tagline.
How does it work?
We had a candid chat with Adam Mikkelsen, CEO of Cangoroo. He explained that the business model and revenue streams are similar to existing e-scooter companies like Lime and Bird. The startup is opting for differential pricing and is currently keen on exploring the $0.3/min price structure. It is also worth mentioning that Pogo Sticks are less capital intensive then e-scooters and this might help Cangoroo further lower the prices.
Fancy a Pogo stick ride back home? All you need to do is download Cangoroo app and search for the nearest stick. In the next step, you are required to scan the QR code and the Pogo stick will be unlocked once the booking is completed.
At the time of launch, Cangoroo will charge $1 one-off fee to unlock and $0.3 jump fee per minute. You will be charged the same rate for temporarily parking your Cangoroo.
The first question that popped into our mind is what is the incentive in using Cangoroo. As it turns out there are many advantages of using a Pogo Stick for your commit. Firstly, Cangoroo will take you places where a car can’t and without any hassles for finding parking spaces. That apart, the on-demand Pogo stick is also said to work wonders for your health. You can easily burn 15-20 kCal/min while commuting as compared to 0.7kCal/min while driving an e-scooter.
Jumping your way across the street is not only fun but also sustainable. Cangoroo is 100% emission free and boasts of a lifespan that is 10x longer than other shared mobility services.
In which countries does Cangoroo plan to be active in 2019 and beyond?
The startup will kickstart its service in Malmo, Stockholm and later launch in San Francisco. In the next stage, the company plans to launch the service across all major European cities like Copenhagen, Berlin, Amsterdam, and London.
Cangoroo currently sees the millennial generation as a driving force in the initial phase. However, it is looking out to appeal to a broader audience in urban areas in the long-run. It is also worth mentioning that the startup has completed its closed beta successfully and the app-controlled pogo sticks will be available starting from summer this year.
Looking out for an investor?
The team behind Cangoroo is also running a communication agency. The first phase of Cangoroo will be funded by communication agency and a few partners. In order to expand to newer markets, they need to raise capital. Cangoroo says that they are looking out for investors who believe in their vision and are passionate about it. An investment of USD100k-350k should help the company spread its wings and expand into new markets.
Stay tuned to Silicon Canals for more updates in the tech startup world.