Velco provides IoT connectivity solutions for the e-bike industry, enabling real-time data collection for safety, anti-theft, and maintenance services. This technology enhances urban mobility by improving the performance and user experience of electric bikes, addressing issues such as theft and maintenance inefficiencies.
Funding
$13.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
E-bike manufacturers and fleet managers face challenges in optimizing performance, preventing theft, and providing enhanced user experiences due to a lack of real-time data and connectivity. Traditional methods of monitoring and managing e-bikes are often inefficient, costly, and fail to address the specific needs of urban mobility.
Solution
Velco provides IoT solutions that connect e-bikes, transforming them into smartbikes with enhanced safety, anti-theft capabilities, and optimized maintenance. By digitizing the e-bike value chain, Velco enables real-time data collection and analysis, offering valuable insights to e-bike brands, fleet managers, and cyclists. The connected e-bikes collect data and transform it into high-value added services such as geolocation, theft prevention, maintenance alerts, and usage statistics. Velco's solutions empower e-bike brands to innovate with connected services, fleet managers to monitor and optimize their fleets, and cyclists to enjoy a premium riding experience.
Target Audience
Velco's primary customers include e-bike brands seeking to enhance their product offerings, e-bike fleet managers aiming to optimize fleet performance and security, and e-bike manufacturers looking to integrate connectivity into their bikes.
Features
- Nuotrax connected handlebars with integrated tracker for real-time geolocation and anti-theft functionality
- Mobile app (Velco Rider) for cyclists, offering features such as bike locking/unlocking, theft notifications, audible alarm, and electric assistance cutoff
- Fleet management application providing anonymized user data (nationality, age, gender) and usage statistics (average distance, speed, CO2 savings)
- Predictive maintenance alerts based on bicycle condition data, enabling optimized maintenance schedules and reduced downtime
- API for e-bike assemblers to integrate connectivity into their products
- Digital ecosystem for motor diagnostics and calibration, traceability, and services for bike makers, bike shops, and riders (e.g. Valeo Cyclee)
- Integration with Valeo Cyclee 48V system, providing motor diagnostics, calibration, and traceability
- Cybersecurity measures to protect connected devices and data