Estonian startup Clevon sold to US-based Indigo Technologies

Estonian startup Clevon has been sold to US technology company Indigo Technologies. The amount of the deal was not disclosed, but negotiations on the sale started more than a year ago, when Clevon was looking for investments in the American market.

According to Sander Sebastian Agur, CEO of Clevon, the reason for the sale was the company's difficult financial situation. He said that without Indigo, Clevon would not have been able to continue operating independently, and with this merger, Clevon's journey as a brand came to an end.

In 2023, Clevon was forced to exit the First North alternative market on the Tallinn Stock Exchange in order to attract venture capital investment. A few months later, the company signed a €700K convertible loan agreement with Aaloe, a real estate company. 

Clevon is an Estonian technology company that develops and manufactures autonomous robotic couriers for the logistics and transportation industries. The company was founded in 2008 in Tallinn and operated under the Cleveron brand. In 2022, the team separated from Cleveron and created Clevon, introducing the third generation robot courier CLEVON 1. The founder and chairman of the board is Arno Kütt. Co-founder and CEO is Sander Sebastian Agur.

Indigo Technologies is an American company based in Massachusetts that specializes in the design and manufacture of next-generation electric vehicles. The company was founded in 2010 by MIT mechanical engineering professor Ian Hunter.