Vulog has raised a further US$31m from the European Investment Bank (EIB) and its current investors, three years after announcing a US$20m financing round.
Eight new mobility projects are due to launch in the first three months of the year, including a new mobility service expected to launch soon in New York.
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Vulog’s platform has evolved from a carsharing platform to covering on-demand mobility needs.
“We are very happy to announce additional financing coming from both the EIB and our existing investors,” said Vulog CEO, Gregory Ducongé.
“This new support from the EIB confirms its confidence in Vulog’s important role in the transformation of mobility on a global scale. Our mission is clear: reduce the number of individually-owned vehicles in cities.
“To accomplish this, we deliver tech solutions that act as the backbone of market offerings that are green, convenient and economical for individuals and organisations.
“We also provide a robust suite of operational tools, most of which are either AI-driven or rely on smart workflows to guide consumer-facing companies towards optimised and profitable operations.”
