Eleven

History

2024

The purchase of Eleven cost MTS 807 million rubles

The purchase of the developer of electric scooters Eleven cost MTS 807 million rubles. This was reported in the consolidated statements of the Russian telecom operator, which was published in March 2025.

As Interfax reports with reference to MTS materials, in addition to 807 million rubles of funds, MTS paid a 4.9% stake in the Russian operator of personal mobility equipment (SIM) for the transaction. The name of this SIM operator is not named in the MTS documents. However, based on the timing and parameters of the transaction, it is obvious that we are talking about the MTS Jurent kicksharing service - a share in it was transferred to the owners of Eleven.

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Фото: Freepik

On the basis of Eleven, MTS Jurent will create an RnD center where electric scooters and other types of sharing vehicles will be developed, as well as various technologies for sharing (for example, software, batteries, charging infrastructure, etc.). Eleven employees will continue to work within the RnD center of the combined company. Already in 2025, the company plans to present an updated scooter model. Also, the RnD center will become the basis for localizing components of electric scooters in Russia.

The Eleven team has unique expertise in hardware development. This is one of several companies in the world that has created its own electric scooter from scratch, "says Ivan Touringe, General Director of MTS Jurent. - Today, the sharing industry has reached a stage where the successful development of the business requires customized solutions that take into account infrastructure features, regulatory requirements for travel safety and user preferences. The acquisition of RnD expertise represented by Eleven will allow MTS Jurent not only to buy standard sharing devices from China, but to independently develop equipment taking into account the realities of the market and the needs of operations. This will increase the efficiency of our core business and strengthen our position in the sharing market.[1]

MTS bought Eleven

MTS Jurent acquired the Belarusian developer of electric scooters and software for them Eleven. This was announced on December 11, 2024.

The transaction includes the purchase of intellectual property and developments of the company, the value of which the investment director of the SK Capital fund Sergey Sobolev estimates at ₽600 -800 million.

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Фото: Freepik

According to RBC, a center for the development of electric scooters, software and charging infrastructure will be created on the basis of Eleven. In 2025, it is planned to present an updated scooter model and localize production in Russia.

Ksenia Erdman, director of the Association of Micromobility Operators, notes that the main problem of localization is the lack of local manufacturers of key components of scooters. Competitiveness requires localization of not only small parts, but also main components.

The head of the industry publication "Trushering" Iouri Nikolaev emphasizes that in the future of three to five years, the investment can save MTS Jurent billions of rubles on the purchase of new scooters and components.

Founded in 2019, Eleven has successfully tested two models of electric scooters and developed an electric bike and a cargobike for delivery. The company's service works in, Belarus, Georgia Russia and. Kazakhstan

MTS Jurent operates a fleet of more than 150 thousand electric scooters. The revenue of the main operating legal entity of the company - Shering Technologies LLC - in 2023 amounted to ₽5,1 billion, with a net loss of ₽7,6 million.

The head of the sales group "" Alpha Capital Alexander Abrahamyan believes that the creation of an R&D center opens up prospects for the development of its own models and the localization of key components, which will reduce cost and increase business margins amid growing demand for sharing services^[2]

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