The Spanish startup vadeCity, the innovative and sustainable mobility solution for bicycle and scooter riders, has secured a third financing round and announced this week that the company is expanding from Barcelona to Madrid. The new investment round, which injected €0.5M and welcomed 8 new shareholders, has allowed the company to reach a valuation of €5.5M.
Founded in 2014 in the Catalan capital, vadeCity has arrived in Madrid to introduce their VadeBike service: hybrid parking lots for bicycles and scooters that stand out for their safety and connectivity.
Together with ACTUA Environmental Services, vadeCity will install 56 parking spaces for bicycles in the underground car parks managed by the Empresa Municipal de Transportes (EMT) and hopes to expand them considerably in the coming months. Likewise, working with the EIT Urban Mobility and Madrid City Council has allowed the company to begin the process of installing a VadeBike pilot station in one of Madrid’s busiest bus and train stations, Plaza Castilla.
After much debate in the Community of Madrid around bikes, bicycles, and scooters interrupting pedestrian traffic, and new regulations leading to a significant reduction of the latter’s availability around the city center, vadeBike parking spaces serve as a helpful solution to both residents and riders.
More expansion plans
VadeBike is the first smart, safe, and sustainable parking system for cities, which combats theft, promotes micro-mobility, and encourages healthy lifestyles. It brings together users of personal bikes and scooters, sharing platforms, and city-managed mobility solutions.
“Our smart, safe, and connected solution, VadeBike, responds and provides added value to the mobility needs of people, organizations and municipalities” expressed Marta Recasens, CEO and Founder of vadeCity. “Madrid is only the first phase of our expansion objectives. We want to bring the micro-mobility revolution to all the cities of Spain. We are facing the challenges of sustainable mobility from an intelligent fixed point so that there is movement at the service of people”.
vadeCity, a pioneer in the development of mobility solutions for Smart Cities, hopes to celebrate a fourth financing round in October looking to attract €800,000 and new partners to enable their expansion towards Valencia in November, and later in Ibiza, Malaga, and Seville. The company’s goal is to reach 52 provincial capitals in the upcoming months and enter the French and Italian markets during the second half of 2023.