Vulog, a shared mobility technology provider powering services across 4 continents, just raised $20m in Series B funding. The round saw the participation of Frog Capital (UK), Inven Capital (Czech Republic), as well as historic investors Bpifrance (France) and ETF Partners (UK). The funds will be used to strengthen the company’s leadership in the mobility space, both to grow its sales and marketing teams and further the development of its technology.
Led by CEO Greg Ducongé, Vulog offers a customizable SaaS solution that enables mobility operators — such as car rental companies, car manufacturers or any other corporation, whether a startup or global group — to launch and operate shared mobility services, including free-floating, corporate, one-way station-based and round-trip car-sharing, with various ride-hailing integrations.
Currently, the company has offices in Paris, Nice, Vancouver, and Toronto, and is opening its first US office in San Francisco, California. Its clients include Evo Car Share in Vancouver, the emov in Madrid, GreenMobility in Copenhagen, as well as Mevo in New Zealand and Urbano in São Paolo, among others.
“Vulog has achieved tremendous growth since Bpifrance and ETF Partners first invested in 2015 and we are delighted to further expand the shareholders group internationally with this growth financing round,” say Gilles Schang of Bpifrance and Fabrice Bienfait of ETF Partners.
“This round of fundraising is a testament to Vulog’s ambitions. In the past year, we have seen our company grow by more than 100 percent, and the funding comes at the right time to allow us to execute the next steps of our plan, including an acceleration of our operations in North America,” Ducongé elaborates. “Our recent growth barely skims the surface of what could be a massive boom in this rapidly evolving industry.”
Vulog is also PRIME’s alumnus – French Tech Hub’s sister company in the United States. More info about PRIME here.
If you’re interested in Smart Mobility, join us at our Travel and Transportation techmeeting in Cambridge, MA on September 26!