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Elmo

Full company profile

uuid0003qkr

Namestring
Elmo
Legal namestring
Elmo Rent AS
Websiteurl
elmoremote.com
Company typeenum
Private
Founded yearint
2013
Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersTallinn, Estonia
HQ citystring
Tallinn
HQ countrystring
Estonia
HQ regionstring
Europe
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
teledriving technology, remote vehicle control, car sharing platform, fleet management software, mobility technology licensing
Industry2 codes
1Autonomous Vehicles & Ground Mobility
CodeHDAAAIAFPrimaryYes
2Autonomous Ride-Hailing / Robotaxi Platforms
CodeTHADADALPrimaryNo
NAICS code2 codes
  • Support Activities for Road Transportation4884
  • Support Activities for Transportation488
SIC code1 code
  • Transportation Services4700
Product category
Teledriving / Remote Driving Technology
Social media profiles2 records
GTM motion3 records

Each record includes

Type, Description, Source

Revenue model4 records
1Technology Licensing
TypeLicensing Royalties
Description

Elmo licenses its teledriving technology platform to car sharing/rental companies, shuttle operators, robotaxi services, AV fleet managers, and logistics companies. The licensing model allows partners to integrate remote driving capabilities into their operations, with Elmo providing technology, training, and support.

elmoremote.com
2Car Sharing/Rental Service
TypeSubscription Recurring
Description

Elmo operates its own electric vehicle sharing service in Estonia (Tallinn, Tartu) using its teledriving technology to deliver vehicles to customers' doorsteps. The service follows a free-float model where vehicles can be picked up and returned anywhere.

elmoremote.com
3Partnership/Integration Services
TypeManaged Services
Description

Revenue from partnerships like Upshift (California subscription service) and Uklon (Ukraine airport pilot) where Elmo provides technology integration and ongoing operational support.

elmoremote.com
4Remote-Controlled Taxi Services
TypeTransaction Fee
Description

Elmo operates or enables remotely-driven taxi services, including partnerships with Bliq in Germany (Heidelberg) and the world's first remote-controlled taxi service launched in Tallinn in June 2025.

elmoremote.com
Marketing channels7 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels4 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
GTM typeB2B and B2C
B2B and B2C
Offering typeSoftware
Software
Core offering1 text field

Elmo develops and licenses a road-legal teledriving technology platform that enables remote operators to control vehicles in real time from dedicated driving stations via 4G/5G, satellite, and radiolink connectivity. The platform is sold to fleet operators, mobility service providers, shuttle and robotaxi operators, logistics companies, and road-safety firms, and is also used to power Elmo's own electric car-sharing service in Estonia where vehicles are remotely delivered to customer doorsteps.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 6 values shown
  • 19,000+ users served since 2022
+5 more records
Product overview1 text field

Elmo operates a unified remote driving technology platform centered on its road-legal teledriving technology, which enables vehicles to be remotely delivered and operated without a driver inside. The core platform is supported by the Generation 3 Remote Driving Station hardware, the Elmo mobile app for customer access, and licensed remote driver services. The company licenses its technology to partners for applications including car sharing, shuttle services, and fleet management, while also operating its own remote driving pilot programs in partnership with mobility platforms globally.

Product and service3 records
1Road-Legal Teledriving Technology Platform
CategoryCore Technology Platform
Description

A road-legal teledriving platform that enables remote operators to control vehicles in real time from dedicated driving stations using cameras, onboard computing, and 4G/5G/satellite connectivity. Sold to fleet operators, mobility service providers, shuttle and robotaxi operators, logistics companies, and road-safety firms. Approved by Estonia's Transport Administration and operational since 2022.

2Technology Licensing Program
CategoryLicensed Technology Offering
Description

A B2B licensing program that gives partners the right to integrate Elmo's road-legal teledriving technology into their own vehicles and operations. Used by Uklon (Ukraine), Upshift (USA), Bliq (Germany), and RSG International (road safety) to power their remote driving services.

3Remote Driving Station (Generation 3)
Scale indicator8 records

Each record includes

Type, Value, Description, Source

Partnership7 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-05-01
Description

Partnership with Ukraine's leading ride-hailing platform to deploy remote driving technology at Boryspil International Airport. Initiative positions Ukraine among first real-world operational environments for human-supervised driverless transportation services.

2Niko Autoalliance
Strategic tierMinorTypeChannel Partner/ Reseller/ DistributorAnnounced on2026-05-01
Description

Nissan's official dealership and authorized brand representative in Ukraine, strengthening connection between future mobility technologies and official automotive ecosystem.

elmoremote.com
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-03-01
Description

Partnership to launch remote control car subscription service in California. Elmo provides proprietary teledriving technology to Upshift, enabling members to subscribe to cars delivered on demand without a driver. Partnership marks significant step toward scaling remote driving technology in the U.S. mobility market.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-03-01
Description

Collaboration through GSMA Foundry CircuitX showcase at MWC26 Barcelona and ongoing partnership for Open Gateway initiative to validate network capabilities for remote driving through standardized APIs including Quality on Demand.

Strategic tierCoreTypeTechnology or IntegrationAnnounced on2026-03-01
Description

Partnership for monitoring network performance and quality parameters in real time. Collaboration on Network as Code and API pilots for 5G applications supporting remote driving operations.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2025-01-01
Description

German mobility company operating remote-controlled taxi service in Germany, including expansion to innovative city of Heidelberg.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2023-05-01
Description

Partnership with Swedish greentech company to develop innovative stationary charging lane for Elmo's electric vehicle fleet in Tallinn. Pilot charging station installed at Elmo headquarters in Ülemiste Business City.

Recent move7 records

Each record includes

Date, Type, Title, Description, Source

Peers10 records
TypeDirect peer
Description

Berlin-based remote driving company that, like Elmo, enables vehicles to be driven remotely by teleoperators for car-sharing and mobility services. Vay is the most direct European competitor in teledriven vehicle delivery, pursuing similar regulatory approvals and enterprise partnerships.

TypeDirect peer
Description

US-based teleoperation company providing remote driving solutions for logistics, forklifts, and yard trucks. Phantom Auto is a direct competitor in the teleoperation/teledriving space with overlapping enterprise customer segments in logistics and industrial mobility.

TypeDirect peer
Description

Tel Aviv-based teleoperation platform provider offering remote operation software for autonomous vehicles, construction equipment, and delivery robots. Ottopia competes in the same teleoperation software layer with similar multi-network connectivity architecture.

TypeDirect peer
Description

Portland-based teleoperation company providing remote driving solutions for autonomous vehicles and industrial applications. Direct competitor in the teledriving/teleoperation category with overlapping use cases in mobility and logistics.

TypeBroad incumbent
Description

Alphabet-owned autonomous vehicle company operating commercial robotaxi services. While Waymo pursues full autonomy rather than teledriving, it competes for the same robotaxi/mobility customer demand and represents the long-term competitive threat to teledriving as a bridge technology.

TypeBroad incumbent
Description

GM-owned autonomous vehicle company developing robotaxi services. Competes in the broader autonomous mobility market where Elmo's teledriving technology is positioned as a lower-capex alternative, representing strategic competitive pressure on Elmo's robotaxi-adjacent use cases.

TypeBroad incumbent
Description

Intel-owned autonomous driving technology company providing ADAS and AV solutions to OEMs globally. As a broad incumbent in autonomous driving technology, Mobileye competes indirectly with Elmo by pursuing full autonomy as the long-term solution to the same mobility challenges.

TypeEmerging player
Description

Estonia-founded autonomous delivery robot company operating sidewalk delivery robots globally. Comparable as a fellow Estonian-born mobility autonomy company with similar origins and customer overlap in last-mile delivery, though Starship focuses on smaller robots rather than full-size vehicles.

TypeBroad incumbent
Description

US-based autonomous trucking and mobility technology company pursuing L4 autonomy for commercial transport. Competes in adjacent autonomous mobility markets where Elmo's teledriving could serve as a bridging technology for fleet operators considering automation.

TypeBroad incumbent
Description

Amazon-owned autonomous mobility company developing purpose-built robotaxis. Represents a well-capitalized incumbent threat in the robotaxi market where Elmo's remote-controlled taxi service (launched in Tallinn 2025) is directly competing for early market share and partnership deals.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers7 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment5 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile6 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

Integration4 records

Each record includes

Title, Type, Description, Source

AI capability3 records

Each record includes

Type, Description, Source

AI maturity
App detail

Has app

Feature7 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles4 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
Compliance2 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors4 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Elmo

Teledriving / Remote Driving Technologyelmoremote.com

Elmo firmographics

Firmographics
Name
Elmo
Legal name
Elmo Rent AS
Website
https://elmoremote.com
Company type
Private
Founded year
2013
Operating status
Operating
Headcount range
1–10 employees
Ownership category
akta.pro rank

Elmo industry classification

Industry
Product category
Teledriving / Remote Driving Technology
NAICS
Support Activities for Road Transportation (4884), Support Activities for Transportation (488)
SIC
Transportation Services (4700)
akta.pro primary industry
Autonomous Vehicles & Ground Mobility (HDAAAIAF)
akta.pro secondary industry
Autonomous Ride-Hailing / Robotaxi Platforms (THADADAL)

Keywords

  • Teledriving technology
  • Remote vehicle control
  • Car sharing platform
  • Fleet management software
  • Mobility technology licensing

Where Elmo is headquartered

Location

Headquarters

HQ city
Tallinn
HQ country
Estonia
HQ region
Europe

Offices2 records

Markets served

Elmo business model

Business model
GTM type
B2B and B2C
Offering type
Software
Cost components
Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

  1. Technology Licensing: Elmo licenses its teledriving technology platform to car sharing/rental companies, shuttle operators, robotaxi services, AV fleet managers, and logistics companies. The licensing model allows partners to integrate remote driving capabilities into their operations, with Elmo providing technology, training, and support.
  2. Car Sharing/Rental Service: Elmo operates its own electric vehicle sharing service in Estonia (Tallinn, Tartu) using its teledriving technology to deliver vehicles to customers' doorsteps. The service follows a free-float model where vehicles can be picked up and returned anywhere.
  3. Partnership/Integration Services: Revenue from partnerships like Upshift (California subscription service) and Uklon (Ukraine airport pilot) where Elmo provides technology integration and ongoing operational support.
  4. Remote-Controlled Taxi Services: Elmo operates or enables remotely-driven taxi services, including partnerships with Bliq in Germany (Heidelberg) and the world's first remote-controlled taxi service launched in Tallinn in June 2025.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Elmo product offering

Product offering

Core offering

Elmo develops and licenses a road-legal teledriving technology platform that enables remote operators to control vehicles in real time from dedicated driving stations via 4G/5G, satellite, and radiolink connectivity. The platform is sold to fleet operators, mobility service providers, shuttle and robotaxi operators, logistics companies, and road-safety firms, and is also used to power Elmo's own electric car-sharing service in Estonia where vehicles are remotely delivered to customer doorsteps.

Product overview

Elmo operates a unified remote driving technology platform centered on its road-legal teledriving technology, which enables vehicles to be remotely delivered and operated without a driver inside. The core platform is supported by the Generation 3 Remote Driving Station hardware, the Elmo mobile app for customer access, and licensed remote driver services. The company licenses its technology to partners for applications including car sharing, shuttle services, and fleet management, while also operating its own remote driving pilot programs in partnership with mobility platforms globally.

Differentiator

Problem solved

Functional benefit

Products and services

  • Road-Legal Teledriving Technology Platform A road-legal teledriving platform that enables remote operators to control vehicles in real time from dedicated driving stations using cameras, onboard computing, and 4G/5G/satellite connectivity. Sold to fleet operators, mobility service providers, shuttle and robotaxi operators, logistics companies, and road-safety firms. Approved by Estonia's Transport Administration and operational since 2022.
  • Technology Licensing Program A B2B licensing program that gives partners the right to integrate Elmo's road-legal teledriving technology into their own vehicles and operations. Used by Uklon (Ukraine), Upshift (USA), Bliq (Germany), and RSG International (road safety) to power their remote driving services.
  • Remote Driving Station (Generation 3)

Quantifiable outcome

  • 19,000+ users served since 2022
  • +5 more outcomes

Companies that use Elmo

Customer profile

Named customers7 records

Segments5 records

Ideal customer profiles6 records

Elmo technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature7 records

Elmo partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered core and minor.

  • UkloncoreStrategic or Co-development Partner · 1 May 2026Partnership with Ukraine's leading ride-hailing platform to deploy remote driving technology at Boryspil International Airport. Initiative positions Ukraine among first real-world operational environments for human-supervised driverless transportation services.
  • Niko AutoallianceminorChannel Partner/ Reseller/ Distributor · 1 May 2026Nissan's official dealership and authorized brand representative in Ukraine, strengthening connection between future mobility technologies and official automotive ecosystem.
  • UpshiftcoreStrategic or Co-development Partner · 1 March 2026Partnership to launch remote control car subscription service in California. Elmo provides proprietary teledriving technology to Upshift, enabling members to subscribe to cars delivered on demand without a driver. Partnership marks significant step toward scaling remote driving technology in the U.S. mobility market.
  • GSMAcoreStrategic or Co-development Partner · 1 March 2026Collaboration through GSMA Foundry CircuitX showcase at MWC26 Barcelona and ongoing partnership for Open Gateway initiative to validate network capabilities for remote driving through standardized APIs including Quality on Demand.
  • NokiacoreTechnology or Integration · 1 March 2026Partnership for monitoring network performance and quality parameters in real time. Collaboration on Network as Code and API pilots for 5G applications supporting remote driving operations.
  • BliqminorStrategic or Co-development Partner · 1 January 2025German mobility company operating remote-controlled taxi service in Germany, including expansion to innovative city of Heidelberg.
  • ElonroadminorStrategic or Co-development Partner · 1 May 2023Partnership with Swedish greentech company to develop innovative stationary charging lane for Elmo's electric vehicle fleet in Tallinn. Pilot charging station installed at Elmo headquarters in Ülemiste Business City.

Scale indicators8 records

Recent moves7 records

Elmo competitors and assessment

Company assessment

Direct peers

  • Vay Technology: Berlin-based remote driving company that, like Elmo, enables vehicles to be driven remotely by teleoperators for car-sharing and mobility services. Vay is the most direct European competitor in teledriven vehicle delivery, pursuing similar regulatory approvals and enterprise partnerships.
  • Phantom Auto: US-based teleoperation company providing remote driving solutions for logistics, forklifts, and yard trucks. Phantom Auto is a direct competitor in the teleoperation/teledriving space with overlapping enterprise customer segments in logistics and industrial mobility.
  • Ottopia: Tel Aviv-based teleoperation platform provider offering remote operation software for autonomous vehicles, construction equipment, and delivery robots. Ottopia competes in the same teleoperation software layer with similar multi-network connectivity architecture.
  • Designated Driver: Portland-based teleoperation company providing remote driving solutions for autonomous vehicles and industrial applications. Direct competitor in the teledriving/teleoperation category with overlapping use cases in mobility and logistics.

Broad incumbents

  • Waymo: Alphabet-owned autonomous vehicle company operating commercial robotaxi services. While Waymo pursues full autonomy rather than teledriving, it competes for the same robotaxi/mobility customer demand and represents the long-term competitive threat to teledriving as a bridge technology.
  • Cruise: GM-owned autonomous vehicle company developing robotaxi services. Competes in the broader autonomous mobility market where Elmo's teledriving technology is positioned as a lower-capex alternative, representing strategic competitive pressure on Elmo's robotaxi-adjacent use cases.
  • Mobileye: Intel-owned autonomous driving technology company providing ADAS and AV solutions to OEMs globally. As a broad incumbent in autonomous driving technology, Mobileye competes indirectly with Elmo by pursuing full autonomy as the long-term solution to the same mobility challenges.
  • Aurora Innovation: US-based autonomous trucking and mobility technology company pursuing L4 autonomy for commercial transport. Competes in adjacent autonomous mobility markets where Elmo's teledriving could serve as a bridging technology for fleet operators considering automation.
  • Zoox: Amazon-owned autonomous mobility company developing purpose-built robotaxis. Represents a well-capitalized incumbent threat in the robotaxi market where Elmo's remote-controlled taxi service (launched in Tallinn 2025) is directly competing for early market share and partnership deals.

Emerging players

  • Starship Technologies: Estonia-founded autonomous delivery robot company operating sidewalk delivery robots globally. Comparable as a fellow Estonian-born mobility autonomy company with similar origins and customer overlap in last-mile delivery, though Starship focuses on smaller robots rather than full-size vehicles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Elmo social profiles

Digital presence

Elmo compliance and trust

Trust signal

Compliance2 records

Elmo financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Elmo leadership team

Management profile

Number of profiles

Profiles4 records

Elmo funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Elmo M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elmo

What does Elmo do?

Elmo develops and licenses a road-legal teledriving technology platform that enables remote operators to control vehicles in real time from dedicated driving stations via 4G/5G, satellite, and radiolink connectivity. The platform is sold to fleet operators, mobility service providers, shuttle and robotaxi operators, logistics companies, and road-safety firms, and is also used to power Elmo's own electric car-sharing service in Estonia where vehicles are remotely delivered to customer doorsteps.

Is Elmo a public or private company?

Elmo is a private company. It is classified as venture growth investor backed and is currently operating.

When was Elmo founded?

Elmo was founded in 2013. It employs 1 to 10 people.

Where is Elmo based?

Elmo is headquartered in Tallinn, Estonia, in the Europe region.

How does Elmo make money?

Four revenue lines are on record. Technology Licensing is the primary driver. The others are car Sharing/Rental Service, partnership/Integration Services and remote-Controlled Taxi Services.

Who are Elmo's main competitors?

Direct peers on record are Vay Technology, Phantom Auto, Ottopia and Designated Driver. Broad incumbents are Waymo, Cruise, Mobileye, Aurora Innovation and Zoox. Starship Technologies is listed as an emerging player.

Does Elmo have an API?

No public API is recorded for Elmo.

What industry is Elmo in?

Elmo's product category is Teledriving / Remote Driving Technology. Its primary akta.pro industry code is HDAAAIAF, Autonomous Vehicles & Ground Mobility, with a secondary code of THADADAL, Autonomous Ride-Hailing / Robotaxi Platforms. Its NAICS code is 4884 and its SIC code is 4700.

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Live signals
Eng.lsm.lvIgaunijā pirmo reizi avārijā iekļuvis tālvadības taksometrsIgaunijā pirmo reizi noticis satiksmes negadījums ar attālināti vadāmu taksometru Tallinā, pie tirdzniecības centra "Kristiine" krustojuma, kur automašīna šķērsoja sarkanās gaismas signālu un tika sadurta ar citu transportlīdzekli. Negadījumā neviens nav cietis, un apdrošinātājs PZU notikušo klasificē kā parastu apdrošināšanas gadījumu, uzsverot, ka par tālvadības automašīnu ir atbildīgs operators. Kopš 2026. gada jūlija Tallinas ielās darbojas divi attālināti vadāmi taksometri, ko ieviesa Igaunijas uzņēmums Elmo sadarbībā ar Vācijas platformu Bliq.dev.ua"Hello, operator, where's the driver?": How Uklon drove VIP guests in a drone taxi at Boryspil Airport, and why the Kyiv City State Administration is already preparing the station for thisUklon tested a remote-controlled Nissan Leaf at Boryspil Airport, driving VIP guests at 50 km/h with a remote operator. The system uses dual LTE/Starlink channels and lidar for safe stops, and Kyiv officials are preparing a station for expansion. The company aims to scale beyond Boryspil under a 2030 Win-Win strategy.dev.uaUklon begins testing remote control of cars at Boryspil Airport for future robotaxi launchUklon and Boryspil International Airport launched Ukraine's first remote car control test on May 27, using Elmo equipment. The pilot aims to prepare regulatory frameworks for autonomous taxis, with real-time operator control and inclusive employment for people with lower limb amputees.The Fast ModeEnterprises Are Demanding Quality Outcomes from Quality on DemandEnterprises globally are increasingly demanding Quality on Demand (QoD) network APIs that deliver measurable business outcomes rather than technical capabilities, with GSMA Intelligence reporting that QoD and communication quality APIs now account for 25% of GSMA Open Gateway deployments. Alipay integrated China Mobile's QoD API under the GSMA Open Gateway initiative, achieving a 57% reduction in average payment latency and a 90% drop in failure rates while processing two million daily transactions. Companies including drone manufacturer Skydio and Estonian remote-driving pioneer Elmo are actively piloting or advocating for QoD APIs to address connectivity challenges in their operations.ArcticstartupEstonian deeptech startup has raised up to €2.6M to launch eco-sustainable remotely controlled cars and expand globallyEstonian deeptech startup Elmo has secured €2.6 million in funding from investors including Highgoal Capital Management to accelerate the global licensing of its remote control technology and launch eco-sustainable remotely controlled cars. The company plans to use the capital to expand its team and separate its technology development from its rental service into distinct subsidiaries to attract focused investors. This follows Elmo's establishment as the first deep-tech firm to operate road-legal remotely controlled cars for car-sharing services in Tallinn and Tartu.FinSMEsElmo Raises Up To €2.6MElmo, a Tallinn-based car-sharing company, raised up to €2.6M from Highgoal Capital Management, FlyCap, Barolo Invest, and SAGGIS. The funds will speed up licensing of remote-control technology in foreign markets, grow the team, and prepare new eco-sustainable cars for public roads. Negotiations are ongoing with over 50 customers, with preliminary work to start driving in at least two foreign cities this summer.BufferEstonian remotely controlled EV technology developer Elmo raises €2.6 millionEstonian EV technology developer Elmo has raised €2.6 million in a funding round to accelerate the licensing of its remote control technology in foreign markets and expand its team. The investment was provided by Highgoal Capital Management, FlyCap, Barolo Invest, and SAGGIS, enabling Elmo to separate its technology business from its short-term rental service to attract focused investors.ElmoremoteElmo has raised up to 2.6 million euros from international growth capital fund and other investors – ElmoElmo, an Estonian company specializing in remotely controlled electric cars, has raised up to 2.6 million euros from international growth capital funds and other investors. The funding will support the licensing of its remote control technology in foreign markets, team expansion for next-generation technologies, and preparations for launching eco-sustainable vehicles on public roads. Highgoal Capital Management, FlyCap, Barolo Invest, and SAGGIS participated in the financing.NasdaqELMO Rent will raise capital from the international market and begin to expandELMO Rent, a major electric vehicle rental provider in Estonia, plans to raise capital from both local and international markets to develop remote controlled car technology and expand into foreign markets, including France and Germany. The company intends to introduce about 20 remote-controlled cars for testing and aims to develop new mobility services such as taxi operations. Capital raising will support fleet expansion, technology deployment, and market entry through stages in 2022.