Velco

About Velco

Velco provides hardware and software to transform e-bikes into 'smartbikes' for the micromobility market. The company was founded in 2015 in Nantes, France, by Pierre Regnier and Romain Savouré. Johnny Smith later joined as a co-founder.

Velco operates on a business-to-business model, serving e-bike manufacturers and electric bicycle fleet managers. Its revenue model is based on selling IoT hardware and charging recurring subscription fees for its software platforms. For manufacturers, the company offers IoT devices like the Mobitrax GPS tracker, which is integrated during assembly. This is supported by software such as 'Velco Assembly Assist' for integration and 'Velco Business Insight' for analyzing usage data. For fleet operators, a 'Fleet Management' platform enables real-time monitoring, maintenance optimization, and operational cost reduction. End-users can use a white-label mobile app called 'Velco Rider' for services like anti-theft alerts, geolocation, and maintenance notifications.

The company's technology, which gathers data on bike usage, location, and technical status, is protected by four international patents. Velco has established partnerships with motor manufacturers such as Shimano, Valeo, and Mivice to enable deeper data integration. Since its founding, Velco has raised $9.37 million over three funding rounds, with a Series A round in March 2021. It has expanded its operations into Germany, the Netherlands, and North America, working with brands like QuietKat, Fuell, and VVolt.