Vulog raises $20m
- August 30, 2017
- Posted by: Alan Feldberg
- Category: Industry News
Vulog, a shared mobility technology provider powering some of the world’s most successful services across four continents, has raised $20m in Series B funding.
The capital raised included 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.
Vulog offers a comprehensive and customizable SaaS solution that enables mobility operators — such as car rental companies, car manufacturers or any other corporation, whether a start-up 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.
‘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.’
Mike Reid, managing partner at Frog Capital, said, ‘Tectonic change is underway in the automotive industry. With its global leadership in mobility infrastructure technology, Vulog is uniquely positioned to become a significant strategic player through its scale-up phase. We are delighted to be backing Greg and his team.’