EIT Digital is proud to announce that its coached startup VULOG, the European leader in carsharing hardware and software solutions, raises the investment of €8.4 million of growth financing.
This funding comes from the Ecotechnologies fund, managed by Bpifrance, and the Environmental Technologies Fund, a growth capital investment fund based in London. It will support VULOG’s international expansion and strengthen its competitive position in the fast growing carsharing market.
Based in Nice, France, VULOG was founded in 2006 by two engineers of our INRIA partner, Georges Gallais and David Emsellem, and develops innovative hardware and software end-to-end solutions responding to the mobility needs of individuals and companies alike. VULOG is recognised as being a pioneer in new generation of carsharing referred to as "free floating" (or "one-way"), offering no constraint of pick-up points and return stations, while eliminating the need for advance reservations. Users can therefore benefit from a flexible and on-demand mobility solution.
VULOG doubled in size in the year 2014 and has positioned itself as a leader on a market that is forecast to expand to over 600,000 vehicles worldwide and more than 30 million users by 2020. The company is currently operating in Europe and North America in partnership with various carsharing operators: mobility providers, car rental operators, automobile clubs, fleet managers, Smart Cities, etc.
Vulog is an innovative startup coached by EIT Digital in its Urban Life & Mobility Action Line.