Barcelona-based electric scooter sharing startup Yugo completes a successful crowdfunding round, closing at €402,000 on The Crowd Angel platform.
The new injection of capital is part of an investment round that will allow Yugo to expand its fleet of electric scooters while continuing to expand internationally both with its own business and with its new commitment to the franchise model, with which it already operates in Bordeaux, France as a city pilot.
The sharing economy startup most recognizable by its green scooters was founded in Barcelona in 2016 by three young French entrepreneurs Benjamin Viguier, Tim Ougeot, and Yann Sander, after their experience in the automotive sector in Munich, Germany working for Tesla, Audi, and BMW, respectively.
According to El Referente, Barcelona is the second city with the most bikes in Europe after Rome, and its startup ecosystem makes it the ideal place to be the cradle of Yugo.
Additionally, the city’s commitment to the Smart City concept also made it the reference city for the business as electric scooters were the most economical, ecological, and practical alternative to the private vehicle in moving quickly and easily through the city.
Yugo has a fleet of 210 silent and emission-free motorcycles and a community of 20,000 users. In the coming weeks 100 new scooters will arrive in Barcelona to continue expanding the offer progressively until the startup estimates to have 700 by the end of the year.
To access the Yugo motorcycle service, users only need a mobile phone with an Internet connection with GPS enabled. By default the application recognizes the scooter closest to the user, while informing (in real time) of all available scooters. Once the reservation is made, the user has 15 minutes to start using it.
In a completely intuitive way, the rider can unlock the bike (through the app), open the topcase, take the helmet and give it a “start,” and only at that moment does the payment begin.
Yugo offers a 100% flexible service for the user since, at the end of the journey, it is not necessary to park the bikes either at stations or at specific recharging points.
Yugo is a motosharing service in the cities of Barcelona, Madrid, Valencia and Zaragoza. It consists of renting electric scooters per minute, paying only for your drive and having an available urban transport which is easy, fast, comfortable, sustainable and quiet.
To make a comparison, riding a Yugo scooter uses half the energy of a toaster to take you around the city at 50km/hour. Even taking into account the emissions produced in the power plants where the batteries are made, Yugo emits 2% of the emissions of a car driving around the city.
Moreover, almost all parts of the scooter are recyclable, including the battery.
If there is something that differentiates a Yugo from other scooters, it is their characteristic light green color. Plus they have identification stickers with the brand name and logo. Every scooter is also assigned a personalized name. In this way it is much easier to spot them on the map. The name tag is placed in the inside part of the handlebars.