Caucasus Ventures has announced an investment in GOFAR, a local startup working towards a smarter and more sustainable future for electric mobility in Azerbaijan.
GOFAR enables electric vehicle drivers to conveniently power their vehicles across an expanding network of charging stations. It offers an effective solution to one of the key infrastructure challenges facing electric vehicle adoption in the country. The company’s vision is fully aligned with Caucasus Ventures’ goals: to accelerate innovations that can have a long-term impact on the well-being of people, cities and the planet.
With this investment, Caucasus Ventures’ ESG (environmental, social and governance) investment portfolio has reached 25%. This further reinforces the institution’s 20% commitment made at COP29 and demonstrates its support for solutions that contribute to environmentally responsible and smart urban infrastructure.
"At Caucasus Ventures, we remain committed to our mission of supporting ambitious founders in the region. As the startup ecosystem evolves, we will continue to support projects that not only create economic value, but also drive sustainable and systemic change," the fund said in a statement.
