Austrian car fleet platform Necture raises $7M in Series A round

Necture, a Vienna-based startup that develops a platform for managing car fleets and charging infrastructure, has raised $7 million in a Series A investment. The round was led by Smart Energy Innovationsfonds, joined by Verbund X Ventures, Speedinvest, and smartworks innovation. The startup, previously known as Ubiq, has also been rebranded following the fresh capital injection, EU-Startups reports.

About Necture

• Formerly known as Ubiq, Necture was founded by Christian Adelsberger. The startup develops a predictive SaaS-based platform providing data to help fleet managers make vehicle-specific recommendations for operational tasks like rebalancing and charging.
• Necture’s platform is used by car sharing and rental fleets to manage their use as well as the transition to electric vehicles. Currently, Necture operates in 20 cities in Europe, North America, and South America with 15,000 vehicles under management. Among its clients are MILES, ELOOP, and Awto.

It’s not enough to just provide a socket for someone to charge. That doesn’t solve the problem of the fleet with a thousand vehicles, you actually need to manage the operations of which car should be first charging where and when, because it’s going to be utilized tomorrow at 9 a.m. in the morning,

Christian Adelsberger, CEO and founder of Necture, said.

• The round was led by Smart Energy Innovationsfonds, a Zurich-based fund that invests in Northern Europe and Western Europe and targets investments in the energy equipment and cleantech sectors.
• Verbund X Ventures, a Vienna-based corporate venture capital firm, also participated in the funding along with the existing investors Speedinvest and smartworks innovation.

Necture will use the investment to expand the company’s offering into corporate fleets and grow its market footprints in both regions.