Vulog raises funds, expands into U.S.
Vulog, a shared mobility technology provide, announced it has raised $20 million in Series B funding with the participation of Frog Capital (UK), Inven Capital (Czech Republic), as well as historic investors Bpifrance (France) and ETF Partners (UK). The company says these funds will be used to strengthen its presence in the mobility space, both to grow its sales and marketing teams and further the development of its technology.
Vulog’s SaaS solution is intended to enable mobility operators—such as car rental companies, car manufacturers, and more—to launch and operate shared mobility services with various ride-hailing integrations. The solution reportedly connects OEM embedded hardware or Vulog’s in-car technology with a mobility platform, back-end management for the operation of a service, and data analytics tools.
“We can offer our clients insights that no one else can, thanks to the experience accumulated by powering dozens of services for a number of years, including many electric vehicle (EV) services,” explained CEO Greg Ducongé. “The combination of our world-class software solution, our unique expertise, our optional hardware designed to enhance the mobility experience, and our cutting edge analytics module makes Vulog a one-of-a-kind partner for any operator in this fast-changing market.”
Since its inception in 2006, Vulog has focused on offering flexible technology to mobility operators. Currently, the company has offices in Paris, Nice, Vancouver, and Toronto, and it is opening its first U.S. office in San Francisco in September. Vulog’s clients include Evo Car Share in Vancouver, emov in Madrid, and GreenMobility in Copenhagen, as well as Mevo in New Zealand and Urbano in São Paulo, among others.
With this Series B investment, Vulog says it will continue its expansion worldwide and plans to hire dozens of people in the next three months. Already in the pipeline are more product innovations, including more analytics tools to support its clients, and commercial growth, including a scooter-sharing project in a major city, and planned partnerships in the North American and Asian markets.