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.