Comodule restructures to capture the growing micromobility market and appoints new CEO

Teet Praks, Comodule’s new CEO

We’ve had an intense year of growth and to grow more, we are implementing some changes. After strategic restructuring, we’re happy to announce that Comodule appoints Teet Praks as the new CEO.

In order to capture the growing micromobility market, we have restructured into separate business units and formed a parent group to oversee the different businesses. Comodule’s long-time CEO and co-founder Kristjan Maruste hands over CEO role to Teet Praks, co-founder of Comodule. Kristjan will start leading the newly formed parent group and one of the new business units Äike. 

As we are confident in the continued growth of the micromobility market, we will extend our product offerings. “While Comodule will pursue growth and enable the industry with IoT solutions, we’re expanding our product portfolio by offering electric scooters. All this serves our mission of empowering emissionless transport and making a greater impact,” says Comodule’s co-founder Kristjan Maruste. The parent group is called Kõu Mobility which includes Comodule, Äike scooter development, and Tuul scooter-sharing operations. 

Comodule continues growth and focuses on IoT 

Teet has been actively involved in Comodule’s business since its founding. He has been leading Comodule’s product and sales teams activities for years, gaining a thorough understanding of the market and customers’ needs.

Comodule remains independent of other business units and the team is fully dedicated to empowering e-bikes and scooters with connectivity. To meet the growing demand and deliver world-class IoT solutions, Comodule’s team has grown nearly 80% in the last 12 months.

“Comodule’s revenue will grow threefold this calendar year as we see increased demand for connectivity solutions. With this, we are strengthening our position as market leaders in connectivity solutions for the micromobility market. We’re empowering a wide variety of bike brands, helping them get more people on bikes and enabling fleets to operate smoothly. We’re well-positioned to move fast while being agile as we control the full process in-house from design to production to delivery.” says Teet Praks. 

Teet and the rest of the team are happy to meet everybody from the industry at Eurobike at booth I30, Hall 8.