Necture secures 7 million euros for the electrification of vehicle fleets

Vienna-based technology company Necture, formerly Ubiq, closes a €7 million funding round led by Smart Energy Innovation Fund and Verbund X Ventures to expand its presence in the corporate fleet market

VIENNA, MARCH 13, 2024 - Vienna-based technology company Necture today announced the closing of a Series A financing round, raising a total of €7 million. The financing round was led by the Smart Energy Innovation Fund from Switzerland and Verbund X Ventures from Austria, complemented by the participation of existing investors Speedinvest and smartworks innovation GmbH.

The financing round enables us to take a big step towards our vision of a sustainable future powered by e-vehicles.

Christian Adelsberger, founder and CEO of Necture

The funds received will be used to support Necture's expansion plans in the corporate fleet market and to optimize the company's existing SaaS platform. Previously known as Ubiq, the company has rebranded to emphasize its increased focus on the electrification of vehicle fleets.

Necture's approach to e-vehicle fleet management is truly innovative and addresses a huge need in the market.

Lars Hennersdorf, Investment Manager at the Smart Energy Innovation Fund

Necture offers a SaaS-based platform that helps shared mobility providers and fleet operators to efficiently manage their vehicle fleets and transition to electric vehicles. The platform provides fleet managers with accurate data and derives vehicle-specific suggestions for rebalancing and charging. The StreetCrowd community, consisting of over 20,000 members, implements these suggestions on the ground to increase fleet availability and reduce costs.

Necture has shown tremendous growth, which will now be further accelerated by the investment. Necture will have a significant impact on the electrification of corporate fleets - we look forward to being part of this journey.

Franz Zöchbauer, Managing Director of VERBUND X Ventures

With 15,000 vehicles already on the platform in Europe and America, Necture has achieved a solid product-market fit. The financing round will be used to drive the company's global expansion and promote the electrification of fleets worldwide. Necture is also about to announce a partnership with a leading car manufacturer and mobility provider.