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Fund-raising

AB - 15/10/2015

The VULOG Start-up Raises 8.4 Million Euros

Start-up Vulog

VULOG, an Inria start-up created in 2006 by Georges Gallais and David Emsellem, is the European leader in car-sharing technologies. It has just raised 8.4 million euros from the Fonds Ecotechnologies and the Environmental Technologies Fund to develop a new generation of car-sharing on a world scale.

On 17 September 2015, VULOG, the European leader in car-sharing technologies, created in the laboratories of the Inria Centre in Sophia Antipolis, announced that it had raised funds of 8.4 million euros from the Fonds Ecotechnologies, managed by Bpifrance, and from the London-based Environmental Technologies Fund. In a context of strong growth in car-sharing throughout the world, this funding will give VULOG the resources to extend its international presence and reinforce its technological advance.

"Bpifrance congratulates itself on this operation. VULOG is a pioneer in car-sharing technologies and is considerably ahead of the field so that it can position itself as the leading light in the swift development of this market. We are positioning ourselves alongside the founders and management to make VULOG into the world leader in car-sharing solutions and roll out internationally the expertise that has originated from the French sector " explains Gilles Schang, Senior Investment Director at Bpifrance Investissement.

"Car-sharing is a new model that is currently in the process of revolutionising the car world; in fact why own a car (or even a two-wheeler) that you only use for 5% of the time? Suppose you had a vehicle that was always available at the end of your smartphone and you just had to pay for the time you spent behind the steering-wheel? " adds Fabrice Bienfait, Investment Director at the Environmental Technologies Fund.

VULOG, is a start-up based in Nice and founded in 2006 by Inria engineers, Georges Gallais and David Emsellem. It offers turnkey solutions for setting up innovative car-sharing solutions to aid in the mobility of people and companies. VULOG is a pioneer of the new generation of car-sharing that does not require a base station nor even a reservation and that is known as free-floating (or “One-Way”). VULOG, as the flagship of car-sharing technologies, had doubled in size by 2014 and acquired international recognition on a market that aims to acquire more than 600,000 vehicles and more than 30 million users by 2020. The company currently offers its solution in Europe and North America to various types of operators, such as mobility operators, car rental firms, construction firms, automobile clubs, fleet managers, local authorities, etc.

"This mark of confidence that Bpifrance and Environmental Technologies Fund have shown in us, as well as the renewed support of PACA Investissement, OPUS and CPG, the historic investors in the company, illustrates the potential for our technologies within the cooperative economy and sustainable mobility. We believe we shall be able to double our staffing levels by 2016 to reinforce the Business Development and R&D teams. After opening offices in Paris and Vancouver, we plan to open two new offices in 2016, one of them in Asia, where car saturation will soon be reaching the same level as in the West. This fund-raising will give us the resources we need to deploy our solution on a world scale ", explains Georges GALLAIS, co-founder of VULOG.

Keywords: Vulog Start-up Smart cars Car sharing

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