Nowadays, a new generation of sector-agnostic VC (Venture Capital) funds is emerging to laser-focus on solutions advocating for inclusivity. This trend follows the political agenda of decision-makers backed by a vast amount of data collected in the past decade. As showcased in multiple studies, they serve researchers and thought leaders when pointing out gaps and deficiencies existing in the current mobility systems. Technological leap with the high pace in which urban areas grow makes them an incredibly attractive, albeit competitive space for solution providers where implementation speed and economic efficiency naturally gain the position of urging priorities.

Although it is true that competition translates into quality and eventually leads to cutting down on emissions while improving the quality of life, so-called smart cities are often overseeing vulnerable groups and minorities with needs that are different from the regular user profile. In this article, a hi-tech software solution supporting the blind and visually impaired will be discussed.

How does Dreamwaves work?  

As an organization bridging all types of stakeholders under the pan-European roof, the special mandate of EIT Urban Mobility is to be vocal about the mobility-related needs of vulnerable minorities and lead the peloton of actors working on safe and inclusive public spaces.

Dreamwaves, an Austrian start-up founded and led by Hugo Furtado, Liliana Calapez, Elke Mattheiss, and Lukas Zimmermann strengthened the company’s equity portfolio with the right tool to work on this agenda. Namely, a software employing augmented reality technology to unlock the unique sound navigation experience to its users, making them feel safe and welcome on the busy streets. With Dreamwaves, the blind and visually impaired can navigate their surroundings with greater confidence and independence, creating a more equitable environment for all.

Why we invested in Dreamwaves? 

What sparked EIT Urban Mobility investor´s attention and dispelled potential doubts? Let´s zoom at a simple 3xT test applied in this case as a part of standard qualification analysis.

1. Timing

It all started with a spotted opportunity and a multi-billion market that awaited to be unleashed. As he later admitted during one of the off-track conversations, Hugo Furtado – CEO of Dreamwaves – was always a passion-driven entrepreneur centered on new technologies and out-of-the-box innovations. To be crazy or not to be at all. Following the music and gaming industries racing solitary for both hardware and software improvements to take the sound experience to the next level, he already saw a brand-new use case. It later resulted with the thought that it pays off to look right when everyone goes left. And talking about the majority, all of us interact with audio content while commuting or during physical outdoor activities. It is nothing strange considering the fact that – following Eurostat´s data ⁽¹⁾ – in 2019 an average commuting time oscillated around 25 minutes. However, as explained with greater detail in different study ⁽²⁾, for one-fifth of the population it could be extended to over 90 minutes per day.

To put it briefly: headphones, of all sizes and kinds, are nowadays an extension of our bodies. Extension that might be more than a source of entertainment, especially for the blind and visually impaired. Dreamwaves decided to be the voice of blind people, making them see the world through their ears.

2. Technology

In principle, the whole concept of screen- and hands-free navigation offered via waveOut can be stressed in three steps. Once the destination is selected and the journey kicks-off, virtual waypoints are being placed in the real world around the user. On the fly. The goal is to reach them and to make it happen, the user must hear them. That is when the sound is activated. It can be compared to a phone call when the ringtone allows us to locate the device. The closer we are, by nature the louder becomes the sound. The same law applies to the Dreamwaves´ software. As soon as the checkpoint is reached, the next waypoint is placed, and the voice switches its location. Again and over, following the beat of a gentle drum until the doormat. Or one´s favourite bookshop.

As simple and naïve the above may sound, the way-finding solution enclosed in the app requires the latest augmented reality toolkits, global positioning advances and machine learning methods behind the scenes. Additional challenges lie in the accuracy that in the busy streets full of static obstacles and dynamic objects must be ultimately reliable. Understanding the state-of-the art of computer vision methods to determine the location of the user in real time helps to overcome this barrier.

Connected to the multi-object environment but being a separate problem class is omnipresent noise pollution. As the solution is hardware-agnostic, meaning that no special upfront investment in wearables is required, it is crucial to ensure that the best experience is provided, even with some quality being lost. This trade-off is a fair price for making the solution truly open and accessible to everyone.

3. Tests & Testimonials

While Dreamwaves is changing the way people understand and sense their locations, the competent and interdisciplinary team navigate itself company´s growth by hearing to the group of early-adopters and tech geeks. Hundreds of individuals were involved in the design and testing phases, with the others feeding engineers with further, post-launch testimonials.

“The best thing we ever heard from a user was: “It’s a bit like seeing. The fact that I constantly can hear the direction I have to go to is a great advantage!”. This made us really proud, and also gave us the feeling that we are in the right direction. On the tough days, thinking about this and other pieces of feedback, really keeps us motivated and going!” – said Hugo Furtado, the CEO of Dreamwaves.

Besides feedback, interactions are constantly feeding the team with new ideas, because the real beauty of every journey lies in additional opportunities being unfolded on the way. For Dreamwaves, these are cavernous cycling and travelling markets where hundreds of millions of users are looking for tricks to make their lives easier and their urban trips saver. Is there anyone out there who didn’t manoeuvre the bike with one hand while staring at phone maps?

Future Mobility: amplifying the voice of inclusivity

Accompanied by the story of Hugo, Liliana, Elke, and Lukas this is the space to reflect all the barriers that still must be overcome to eradicate the gap between the blind or visually impaired and the rest sensing the surrounding with sight. With its first step and team efforts, Dreamwaves points to the direction we should look at technology. Its proper incorporation into urban and suburban areas can significantly enrich the existing toolkit, making the lenses through which smart cities are defined adjusted to the needs of commuting minorities. Only then we will be entitled to call streets inclusive and open spaces.

Do you want to know more about Dreamwaves’s mission and its solutions?

Visit the company website and LinkedIn. You can also further explore their product via EIT UM Marketplace.

This article is part of Why we invested? series presenting EIT Urban Mobility equity portfolio.

About the author

Mateusz Kaluza – investments analyst at EIT Urban Mobility, passionate about data and active mobility. Scouting for impact-driven innovations enabling shift towards citizen-oriented transportation systems. Contact at: mateusz.kaluza@eiturbanmobility.eu

Supporting literature:

• Main place of work and commuting time, 2019, Eurostat

• Trends in commuting time of European workers: A cross country analysis (via ScienceDirect)

When thinking about the scope of urban mobility, there is always a vertical that pops into our minds and this is city logistics. However, what fits within the concept of logistics is never too obvious. Construction tech is a rapidly growing industry that has the potential to transform the way we build and manage our cities, and yes, it’s an industry directly related with urban logistics.

EIT Urban Mobility has made a ground-breaking investment in ProperGate, a Polish construction tech start-up that has become the first successful investment in Poland for the organisation.

How does ProperGate work?  

ProperGate’s innovative platform aims to digitize and streamline the construction logistics management process, reducing the time, cost, and environmental impact of construction projects. With ProperGate’s platform, builders and suppliers can track and manage their deliveries to construction projects in real time, identify and address issues more quickly and efficiently, and reduce the need for paper-based documentation.

ProperGate addresses the needs of all potential customers in the construction supply chain, from real estate developers and investors to subcontractors and suppliers, all having a customized profile to sign up for within the platform. And yet its direct customers are not the only ones to benefit from the results of the solution, as the use of ProperGate’s innovation indirectly contributes to the development of the professional construction sector by adding tools and methods that will have to be acquired by young professionals.

Why we invested in ProperGate? 

Construction site logistics can be a significant pain point not only for the constructors but also for the surrounding city and the people that live in it.

Give it a thought; the usually limited space around an urban construction site can make it difficult to manoeuvre large construction vehicles and equipment, leading to potential safety hazards and logistical challenges for the delivery of materials and supplies; in already densely populated areas, heavy traffic around the construction site can cause more delays and disruptions than normal and often become a significant source of disruptive noise, having severe effects in the health and well-being of citizens. On top of all these challenges, construction sites also contribute to polluting the city, with negative environmental impacts ranging from air and water pollution to soil contamination. Therefore, managing construction site logistics effectively is crucial to minimizing the negative impact of construction on the surrounding urban environment.

The onboarding of ProperGate into EIT Urban Mobility’s equity portfolio is testament of a threefold purpose: First, as its first successful investment in a Polish registered company, EIT Urban Mobility proofs to have fruitfully taken measures to ensure that funds are directed towards the RIS[1] region; second, as EIT Urban Mobility’s first investment in the construction tech industry, the KIC shows its commitment to explore and boost the endless potential of the urban mobility meaning; and finally, by supporting the gender-diverse C-level team that leads ProperGate, EIT Urban Mobility is also backing its mission of promoting female entrepreneurship.

Do you want to know more about ProperGate’s mission and its solutions?

Visit the company website and LinkedIn. 

This article is part of Why we invested? series presenting EIT Urban Mobility equity portfolio.

[1] Regional Innovation Scheme

This is an article of the series Why we invested in? Written by Anna Burgués, RIS Officer at EIT Urban Mobility.

With the boom of new personal mobility devices (PMDs) in recent years, E-scooters are now one of the fastest-growing micromobility solutions in Europe, which has a unique potential to develop a world-leading ecosystem promoting sustainable urban mobility, with unparalleled potential to create new jobs, reduce air pollution, accelerate the transition toward climate targets. 

A new digital, green, and equitable economy fosters tremendous investment opportunities in both private (e.g., renewable energy installations or electric vehicle charging stations) and public facilities (e.g., digitalisation of electricity and mobility systems). To address this, Barcelona-based YUP is breaking the barriers for better safety parking & charging infrastructures, much needed to cover increasing micromobility vehicles demand. YUP aims to revolutionise the micromobility smart infrastructure, becoming the first European one-stop-shop provider for cities and corporates. 

How does YUP work?  

Through an iMaaS business model, YUP offers infrastructure network within cities and companies that has now secured more than 170 new customers during the first 24 months. Thanks to their sound financial management and a top-notch team, YUP has already reached financial break-even.  

Beyond the value that YUP already brings to the urban mobility landscape through charging stations, lies a colorful roadmap of products and features for both municipalities and corporates with high high-performance capabilities.  

The concept of home is a hard one for YUP. With more than 170 projects and 2.500 units delivered during the last 2 years, YUP has one key market: Spain. Currently, more than 40% of their business comes from Spain, and another 60% from 3 other international markets: France, Germany, and Greece. 

With a vast experience designing and manufacturing micromobility innovative charging solutions, YUP has the ambition to become European leaders in smart infrastructure development for cities. 

Following the acquisition of Zicler in 2022, YUP is planning to double their team in 2023 (recruiting the positions of C-levels and other key positions) and expand/ scale to 5 countries and preparing the expansion in USA, with the goal to deliver up to 10.000 new units and double the number of new clients (split between B2B and B2G). 

Why we invested in YUP? 

This is why, as an impact-driven investor, we believe that EIT Urban Mobility shall add value to its portfolio companies in many forms.  

Capitalizing on the network effects, EIT Urban Mobility has supported YUP on leveraging real sales opportunities through the largest European mobility network for YUP to scale more quickly and gain new consumers at little or no cost. 

The second component of our collaboration is that YUP has detailed plans for what they want to build and execute next and why. In our capacity as the largest European mobility ecosystem, EIT Urban Mobility will play a pivotal role in facilitating ongoing investment regulation, positively driven by Next Gen Funds. The current EU horizon for funding opportunities in transport and infrastructure represents in excess of EUR 1.100M ongoing from 2021 to 2027. 

From EIT Urban Mobility, we are truly convinced YUP will be able to onboard the most talented urban mobility enthusiasts thanks to their open, respectful and passionate company’s culture and values. 

The ultimate goal of raising capital isn’t only about cash. It is also about the new shareholders’ expertise, knowledge and network. The value generated by EIT Urban Mobility has facilitated a smooth cooperation and dynamics with YUP, and we are convinced that both new and existing investors will be loyal supporters of the company in future endeavors. YUP is well on their way to becoming a key player in the new global micromobility infrastructure industry. 

Do you want to know more about YUP’s mission and its solutions?

Visit the company website and LinkedIn.  

This article is part of Why we invested? series presenting EIT Urban Mobility equity portfolio.

This is an article of the series Why we invested in? Written by Pablo Garrido, Investment Principal at EIT Urban Mobility.

Urbanization is a global trend that is rapidly accelerating, with over half of the world’s population now living in urban areas. SHQUARED contributes to more sustainable urban development by maximizing the use of existing infrastructure and reducing the need for new buildings or parking structures. That´s why we invested in SHQARED!

According to the United Nations, the world’s urban population is expected to reach 68% by 2050, up from 55% in 2018. This rapid growth of urban populations has led to increasing demand for space, resulting in a shortage of land for residential, commercial, and industrial activities. In the context of urban logistics, space is a critical resource that is often limited and expensive.

Micro hubs are a potential solution to this issue, providing smaller and more strategically located logistics facilities that can reduce the need for larger distribution centres and improve last-mile delivery efficiency. And SHQAURED is the answer!

How does SHQUARED contribute to solve this issue? 

Finding suitable micro hubs in urban areas can be challenging, especially for small businesses. This is where SHQUARED’s space-sharing platform comes in, providing a practical and sustainable solution to the urban space shortage. The platform enables space owners to rent out and share their underutilized spaces, such as warehouses, garages, or parking lots, as micro hubs for urban logistic companies.

By sharing spaces, urban logistics companies can reduce their carbon footprint and contribute to a more sustainable urban logistics ecosystem. Considering that according to a report by the International Transport Forum, micro hubs can reduce delivery distances by up to 40%, resulting in lower delivery costs and reduced congestion and emissions, this is of utmost importance.

Another point to consider is that, according to a study by McKinsey & Company found that logistics and distribution centres occupy approximately 12% of urban land, while generating up to 30% of total urban traffic. Furthermore, the same study found that logistics and delivery costs account for up to 30% of the final price of goods and services in urban areas. And Shquared also plays a role in it, as it is currently working on a project together with the City of Munich to develop an online B2B Market Place for City Logistics Spaces tailored to the needs of the city. In the next months, the team plans to fully roll out their solution in Germany and subsequently in other European cities.

Christian Kink, Co-Founder and CTO at SHQUARED: “Working with the city of Munich on this important topic and with the great support of EIT Urban Mobility allows us to use our space sharing expertise and platform infrastructure to solve an urgent infrastructural problem in Munich and other urban areas. After adjusting our platform and processes to logistic-related requirements we are eager to offer this solution to other cities in Germany and Europe.”

Do you want to know more about SHQUARED’s mission and its solutions?

Visit the company website and LinkedIn.  

This article is part of Why we invested? series presenting EIT Urban Mobility equity portfolio.

This is an article of the series Why we invested in? Written by Johannes Kirschner, Investment & Portfolio Manager at EIT Urban Mobility, expressed his enthusiasm for SHQUARED: “I’m thrilled to support SHQUARED’s diverse and motivated team as they work towards making a positive impact on urban logistics in cities. I believe their space-sharing platform has the potential to offer a practical and sustainable solution to urban space shortage, enabling more efficient and cost-effective use of existing infrastructure.”

Supporting literature and sources:

• SHQUARED Company Info (2022). Retrieved from https://shquared.de/c/logistic
• United Nations. (2018). 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Retrieved from https://www.un.org/development/desa/en/news/population/2018-revision-of-world-urbanization-prospects.html
• McKinsey & Company. (2019). The future of urban logistics. Retrieved from https://www.mckinsey.com/industries/capital-projects-and-infrastructure/our-insights/the-future-of-urban-logistics
• International Transport Forum. (2018). Urban goods delivery: The challenge of micro-consolidation. Retrieved from https://www.itf-oecd.org/urban-goods-delivery-challenge-micro-consolidation

Bicycles are a popular, convenient, and sustainable mode of transportation, but they are also vulnerable to theft and damage. With the increasing popularity of cycling as a mode of transportation, the demand for infrastructure and support for bike riders is on the rise. A solution was needed, and MIOO is the answer.

MIOO Cycling is an app and platform offering smooth bike ownership throughout the bike’s lifecycle. It has been developed by a start-up which is part of our community. The app allows cyclists to keep track of their bike’s service history, book repair and maintenance services, and register the bike in the antitheft and insurance programme.  Additionally, the app’s potential for environmental impact aligns with the growing trend of sustainable investing. By investing in these innovative platforms, investors can support a more sustainable and equitable transportation system. 

How does MIOO work?  

The Swedish bike repair app is making at-home bike services easier than ever. You simply book a time and location through the app and a MIOO Bike Buddy will come to service or repair your bike wherever you are. It provides a range of services, including maintenance, repair, and accessories, making it easy for riders to keep their bikes in top condition. The insurance component protects against theft and damage, giving riders peace of mind. In the event of theft, the app’s antitheft programme enables the tracking of stolen bicycles in real time, increasing the chances of recovery. With MIOO Cycling, cyclists can feel confident and secure, knowing that their bikes are protected and well-maintained.

The difference between MIOO and all the many other mobile bike repairs that exist is that MIOO is not a bike repair mechanic scheme – MIOO is possible thanks to bike buddies. A bike buddy is a private individual that is passionate about bikes and know how to fix and maintain a bike on a every day need basis. Could be your neighbor or someone working next door. 

What are the benefits of MIOO?

Firstly, the app’s maintenance services promote the longevity and efficiency of bicycles. Well-maintained bikes require less energy to operate, reducing the overall carbon footprint of cycling as a mode of transportation. 

Secondly, the app’s insurance coverage encourages the use of bicycles as a primary means of transportation. By offering protection against theft and damage, the app provides reassurance to bike riders who may otherwise be hesitant to rely on their bikes for everyday use. 

Finally, as more people use the app and platform, the demand for bike-friendly infrastructure may increase, leading to a more sustainable and equitable transportation system. 

EIT Urban Mobility believes MIOO Cycling has the potential to revolutionize the cycling industry, making it more accessible and convenient for all. We look forward to seeing how this start-up develops and the positive impact it has on the cycling community.

Do you want to know more about #MIOO Cycling’s mission and its solutions? 
Visit the company website and LinkedIn. 

This article is part of Why we invested? series presenting EIT Urban Mobility equity portfolio.

About the author

Catarina Andrez – Impact Officer at EIT Urban Mobility, passionate about impact investments and supporting early-stage start-ups in their path to contribute to a future sustainable urban mobility. Contact at: catarina.andrez@eiturbanmobility.eu

Urban mobility is undergoing one of the most transformational shifts of a generation. A successful strategy in the industry requires the adoption of a comprehensive and coherent approach, centered on innovative ventures that are disrupting this landscape.

While the pandemic has taken a heavy toll on the economy, the crisis has also encountered major opportunities for innovation.

In pursuit of leading positive change and business prosperity, EIT Urban Mobility is investing up to €100,000 per company in high-impact startups, scale-ups and SMEs to accelerate their journey, to continue critical innovation and to ultimately transform the European urban mobility landscape.

An EIT UM investment will not only provide you with capital but also position you in the venturing ecosystem and include you in our European partner network of Corporates, Investors, Universities and Cities.

Who qualifies for startup investment?

Startups, scale-ups and SMEs currently fundraising or preferably already in an ongoing funding round with the following characteristics:

• Incorporated not more than 10 years ago
• Less than 100 employees on their payroll in Q1, 2021
• Innovative Product/Service contributing to at least one of the EIT Urban Mobility Focus Areas: Active Mobility, Sustainable City Logistics, Creating Public Realm, Future Mobility and Mobility & Energy

For more information, please contact pablo.garrido@eiturbanmobility.eu

• You can demonstrate that your company has successfully developed and commercialised products or services that represent a significant innovation in markets where value and monetization can be maximized
• You have the management and technical expertise, with the necessary resources to show that the company is economically viable
• Your company’s operations, products/services contribute positively to at least one of the EIT Urban Mobility’s Core Sustainable Development Goals (SDGs); SDG3, SDG7, SDG8, SDG9, SDG11 and SDG13

Key dates

What we offer?

Our startup investment instrument consists of up to €100,000 in exchange for equity. If selected for investment, your company will also benefit from access to regional ecosystems, infrastructure and coaching to drive growth and internationalisation.

These are the requirements that companies need to fulfill to be eligible;

1. The amount of equity for EIT Urban Mobility needs to be substantiated (e.g. last round valuation, revenues, term sheet, etc.) when submitting the application form
2. EIT Urban Mobility will be a minority shareholder, EIT Urban Mobility will be a passive shareholder and EIT Urban Mobility shares would be diluted in case of capital increases
3. Supported companies are required to contribute to the EIT Urban Mobility Financial Sustainability Mechanism (FSM)
4. In consideration for the investment, companies will provide equity to EIT Urban Mobility. A term sheet and a shareholders agreement shall be notarized to formalize the investment

Selection criteria

• Resilience and capacity to leverage your company’s resources as a response to the changing environment and challenges and opportunities, ensuring traction  and growth
• Positive contribution to at least one of the focus areas of  (Active Mobility, Sustainable City Logistics, Creating Public Realm, Future Mobility and Mobility & Energy) and to Core Sustainable Development Goals (SDGs); SDG3, SDG7, SDG8, SDG9, SDG11 and SDG13
• You have secured/ committed investment from other accredited investors (BA, VC, CVC, etc.) in your current capital raise where EIT UM would participate
• You can act fast and diligently to formalize the current funding round and the investment process

Exclusion criteria

Applicants will be excluded if they:

• Are subject to an administrative sanction (i.e. exclusion)
• Are in one of the following situations: a. Bankrupt, being wound up, having their affairs administered by the courts, entered into an arrangement with creditors, suspended business activities or subject to any other similar proceedings or procedures under national law (including persons with unlimited liability for the participant’s debts) b. Declared in breach of social security or tax obligations by a final judgment or decision (including persons with unlimited liability for the participant’s debts)
• Are found guilty of grave professional misconduct by a final judgment or decision (including persons having powers of representation, decision-making or control)
• Are convicted of fraud, corruption, involvement in a criminal organisation, money laundering, terrorism-related crimes (including terrorism financing), child labour or human trafficking (including persons having powers of representation, decision-making or control)
• Shown significant deficiencies in complying with main obligations under a procurement contract, grant agreement or grant decision financed by the EU or Euratom budget (including persons having powers of representation, decision-making or control)
• Have misrepresented information required for participating in the EIT Urban Mobility funding scheme or fail to submit such information
• Were involved in the preparation of the any documentation regarding this call or are involved in the evaluation process of this call and this entails a distortion of competition

Selection process and key dates

• Please use this application form to express interest in this funding instrument and provide all requested  details about your company by March 1^st 2021, 12:00 PM CET
• All applications will be evaluated by EIT Urban Mobility staff with the support of independent external experts and venture capital investors
• Within the month of March 2021, EIT Urban Mobility will let you know if we can honor your request and to communicate the next steps. All information you share with us will be treated confidentially and in accordance with the General Data Protection Regulation, GDPR (Regulation EU 2016/679)  

Frequently Asked Questions (FAQS)

For more information, please read our FAQ.