Vulog, a Nice, France-based provider of carsharing hardware and software solutions, raised €8.4m in financing.
Backers included the Ecotechnologies fund, managed by Bpifrance, and the Environmental Technologies Fund.
The company intends to use the funds to expand internationally and strengthen its competitive position in the carsharing market. It aims to double the staff in 2016 to strengthen the Business Development and R&D teams. After opening the Paris and Vancouver offices in 2014, Vulog plans to further expand in 2016 in North America and in Asia.
Founded in 2006 by two INRIA (French Research Institute) engineers, Georges Gallais and David Emsellem, the company develops hardware and software solutions responding to the mobility needs of individuals and companies alike. The company is currently operating in Europe and North America in partnership with mobility providers, car rental operators, automobile clubs, fleet managers, Smart Cities, etc.