Fluctuo, founded in 2019, is an independent third-party data aggregator with a Software as a Service (SaaS) platform to collect, process, analyse and visualise the data of shared mobility services (bikes, scooters, mopeds and cars), helping public stakeholders and private companies to make data-driven decisions on mobility services & infrastructures.
EIT Urban Mobility portfolio company Fluctuo received a further €1.6 million investment to consolidate its position in the European market and expand into new mobility modes, such as transport on demand. This capital injection will also allow improving the product offering, adding types of data (e.g. urban infrastructure like mobility hubs and charging stations). Fluctuo, who graduated from EIT Urban Mobility’s accelerator programme, was also chosen for investment through the Startup Investment programme.
Since its creation in 2019, Fluctuo specialises in the collection, processing and distribution of data on shared mobility services, including bikes, scooters, mopeds and cars. The company has positioned itself as a facilitator between shared mobility operators, on the one hand, and the transport and tourism sectors on the other. Their SaaS (Software as a Service) platform helps public stakeholders and private companies to make data-driven decisions on mobility services and infrastructures. In Europe, Fluctuo already works with around thirty shared mobility operators (Cityscoot, TIER, Dott, Voi, Share Now, etc.), transport aggregators (Free Now, SNCF e-Voyageurs, Cogo, etc.) and public transit operators.
“Development of these new urban mobility services has accelerated since the start of the health crisis,” says Julien Chamussy, President of Fluctuo, adding: “At the end of 2021, there were over 500,000 shared vehicles available throughout Europe. At Fluctuo, we are proud to be helping players in this market make their services accessible to as many people as possible. We plan to use this latest round of financing to expand our product offering further, adding new capabilities and moving into new markets.”
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 email@example.com
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
Timeframe dependent on number of eligible applications
Final Evaluation period with Virtual Pitch, Q&A and Due Diligence. (Stage 2)
8 March – 12 March 2021 (preliminary)
Timeframe dependent on number of eligible applications
Final Selection and Outcome Notifications (Stage 3, 4 & 5)
15 March – 31 March 2021 (preliminary)
Outcome notifications for different selected applications will be made as they happen
Drawing-up Investment Documentation
Investment Formalization and Transfer of Funds
April 2021 – May 2021
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;
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
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
Supported companies are required to contribute to the EIT Urban Mobility Financial Sustainability Mechanism (FSM)
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
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
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 1st 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)
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