CDG Invest Invests in Velyvelo, Driving Sustainable Urban Logistics Forward

Friday 26 April 2024 - 16:44

CDG Invest, through its 212Founders program, has taken a significant step toward reshaping urban logistics by investing in Velyvelo, a startup dedicated to sustainable last-mile delivery. This investment, alongside contributions from the NCI's NCITY fund, focused on startups driving the city of tomorrow, and the Mouvement & Finance fund, totals 65 million Moroccan dirhams (MDH).

The capital injection will advance Velyvelo's mission to transform urban logistics with a zero-carbon approach, emphasizing last-mile delivery, a critical element of the logistics chain.

Since its inception in 2019, the 212Founders program has supported entrepreneurship and fostered economic growth in Morocco, completing 20 seed and Series A financings. This recent investment solidifies its commitment to promoting innovative startups.

Leading the Way in Urban Cycle-Logistics

Velyvelo's founders have strategically positioned the company to tackle the challenges of cycle-logistics and drive a sustainable future. The startup operates extensively across the Île-de-France region, as well as in cities such as Lyon, Bordeaux, and Marseille. Its fleet of utility bicycles has covered more than 2,170,000 kilometers, contributing to the delivery of millions of parcels each year.

Velyvelo has earned recognition for its significant role in reducing carbon emissions, serving a diverse clientele that includes food delivery platforms like Uber Eats and Deliveroo, major retailers like Monoprix, and parcel services such as UPS. This wide-ranging customer base underscores Velyvelo's ability to meet high standards in sustainable delivery.

The latest funding round will help Velyvelo achieve its goals by supporting geographic expansion and enabling the deployment of its services in new regions where cycle-logistics is vital. Additionally, the investment will boost technical capabilities, enabling the company to integrate new features into its fleet management platform and improve the user experience. It will also drive the development of Velyvelo's range of vehicles.

"Cycle-logistics is an essential component of urban delivery, providing an innovative, sustainable, and cost-effective solution that meets the growing needs of businesses and consumers," said Asmaa Chakir Alaoui, co-founder and CEO of Velyvelo. "This funding round is a pivotal moment in our growth and signifies confidence in our ability to lead the market in utility electric bicycle leasing."

Nawfal Fassi Fihri, Managing Director of CDG Invest and head of the 212Founders program, agrees: "Velyvelo is more than just a brand, it’s a comprehensive mobility solution designed for delivery professionals. Velyvelo represents a revolutionary approach to urban logistics, and we are confident in its substantial growth potential."

With this strategic investment, Velyvelo is poised to set a new standard in the sustainable urban logistics sector, leading the way in eco-friendly innovation and transforming the approach to last-mile delivery.