Smart bike software firm Velco raises €2m & signs 3 new bike brands
Velco’s expansion has grown across the Atlantic, with the French company signing three new brands in the United States, QuietKat, Fuell and VVolt.
Smart bike software firm Velco provides a white label mobile app to offer connected services to cyclists. Transforming eBikes into smart bikes, these brands have integrated the Mobitrax GPS tracker developed by Velco. Linked with the Velco SaaS soft3ware suite – web and mobile apps to brands and riders, data is collected and commands can be sent to eBikes.
Connected services for riders and brands include those regarding anti-theft, provide direct contact between brands and riders, knowledge of product use, easier maintenance management and other key advantages for eBike brands, says Velco.
Velco’s partnerships – number in excess of 20 cycle manufacturers – also stretch into the automotive industry, including with innovator Valeo. It recently announced it was able to connect to Shimano’s EP6 and EP8 motors to offer an IoT (Internet of Things) solution as well as a while labelled mobile app. Velco is now the official off-shelf device partner of Shimano.
At the tail end of 2023, Velco announced it had completed a new €2 million fundraising round to accelerate development and aiming to reach profitability this year. It has passed the 50,000-bike equipped milestone, and promises a new IoT product to be unveiled at Eurobike in July.
This latest development in the US comes as that eBike market passed the million unit mark for the first time, representing growth of 25%.
QuietKat is focused on opening up new exportation paths for wilderness lovers, while Fuell is a 2019-launched brand that celebrates design, engineering and innovation in getting around. Vvolt is an urban focused daily transportation brand.