What Velco does

Velco (legal entity SAS VEL'CO) is a French IoT company headquartered in Nantes that provides vertically integrated connected mobility solutions for the urban e-bike industry. The company was founded in 2016 by Pierre Régnier (President and CEO), Johnny Smith (Co-founder and CMO/CSO), and Romain Savouré (Co-founder and CTO), and operates with nearly 40 employees across France, the Netherlands, and Germany. Its offering comprises proprietary IoT hardware (the Mobitrax 2 smart box in S and XS form factors, the Wink Bar connected handlebar, the NUOTRAX and ONITRAX geolocation devices), firmware, mobile applications, and a cloud-based software platform, all manufactured in France and Portugal and protected by 4 international technology patents.

The technical stack uses CAN protocol connectivity and LTE-M cellular communication to deliver 1-10m geolocation accuracy, an anti-theft system with motion detection, real-time notifications, a 102 dB(A) alarm, and remote electric-assistance cut-off. The software layer is organized as the Velco Software Suite, which includes Velco Fleet Manager for fleet operators, Velco Business Insight for brands, Velco Assembly Assist for production-line integration with ERP systems, and the Velco Rider mobile application for end consumers. Velco sells through direct enterprise sales to three primary customer segments: fleet operators (Veligo, Pony, La Poste, Cooltra), e-bike brands and manufacturers (Arcade Cycles, Gaya, MFC, Intersport, Cycles Europe, Muli, Ultima Mobility, Panot), and motor manufacturers (Mivice, Polini). Revenue is generated through a combination of IoT hardware sales, recurring software subscriptions, and professional integration services delivered via the Assembly Assist platform and public API.

The company has deployed 100,000+ connected bikes across France, Europe, and North America and is GDPR- and CCPA-compliant, storing personal data on EU-based servers. Velco has raised approximately $18 million across five funding rounds since 2017 from investors including Siparex Groupe, Banque des Territoires, GO CAPITAL, Inventures SA, Pays de la Loire Participations, and Paris Business Angels, supplemented by European Regional Development Fund (FEDER) support between 2018 and 2020. The most recent round of €2 million closed in December 2023 to support growth and the company's approach to profitability, alongside expansions into the U.S. and Spanish markets in 2024.

Name

Velco

Legal name

SAS VEL'CO

Website

https://velco.tech

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Velco provides vertically integrated IoT connectivity solutions for urban e-bike professionals, offering proprietary hardware (Mobitrax smart boxes, connected handlebars), LTE-M-enabled software platforms, and assembly-line integration tools for fleet operators, e-bike brands, and motor manufacturers across Europe and North America.

Ownership category

akta.pro rank

Product category

Connected e-bike IoT and mobility software

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Wholesale-Electronic Parts & Equipment, Nec (5065), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

E-Mobility Connectivity, Apps & Anti-Theft Tracking (consumer devices/services) (CRACASAM)

akta.pro secondary industries

Micromobility Rental Software & White-Label Platform Providers (THADAGAO), E-Mobility Safety, Security & Accessories (helmets, locks, lights, mounts) (CRACASAL), Ride-Hailing Platform Technology Providers (White-Label, Dispatch, Payments) (THADADAM)

Keywords

• Connected e-bike IoT
• Bike fleet management software
• Smart bike hardware
• E-bike tracking devices
• Connected mobility platform

Headquarters

HQ city

Nantes

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Operations, Infrastructure

Revenue model

1. IoT Hardware Sales: Sale of proprietary IoT devices (Mobitrax) that are integrated into e-bikes during manufacturing or as aftermarket solutions. Products are manufactured in France and Portugal.
2. Software Subscriptions: Software-as-a-service offerings including Velco Business Insight for brands, Velco Fleet Manager for fleet operators, and Velco Rider mobile application. Provides ongoing data, analytics, and connectivity services.
3. Professional Services: Implementation support, integration services, and consulting for brands and fleet operators deploying connected bike solutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Velco sells proprietary IoT hardware devices (notably the Mobitrax 2 smart box, Wink Bar, NUOTRAX and ONITRAX geolocation devices) integrated into e-bikes, along with a modular software suite (Velco Rider mobile app, Velco Fleet Manager, Velco Business Insight, Velco Assembly Assist) and an API for assemblers. The platform enables tracking, anti-theft protection, remote management, predictive maintenance, and data analytics for e-bike brands, fleet operators, bike assemblers, and motor manufacturers. Velco's offering is sold through direct B2B enterprise sales with hardware manufactured in France and Portugal and software delivered as subscription services.

Product overview

Velco provides a comprehensive connected mobility platform for urban e-bike professionals, consisting of premium IoT hardware devices and a modular software suite. The product portfolio includes Mobitrax 2 (compact IoT tracking device), Wink Bar and NUOTRAX (connected handlebars), and ONITRAX (geolocation device) as hardware offerings. The software ecosystem comprises the Velco Software Suite with specialized platforms: Velco Fleet Manager (for fleet operators), Velco Business Insight (for bike brands), Velco Assembly Assist (for manufacturers), and Velco Rider mobile app (for cyclists). The system uses LTE-M cellular technology and CAN protocol connectivity, enabling data collection, remote control, security features, and integration with existing business tools via API.

Differentiator

Problem solved

Functional benefit

Products and services

• Velco Software Suite
• Velco Rider Mobile App
• Velco Fleet Manager
• Velco Business Insight
• Velco Assembly Assist
• Mobitrax 2
• Wink Bar
• NUOTRAX
• ONITRAX
• Velco API for E-bike Assemblers

Quantifiable outcome

• 100,000+ connected bikes deployed
• +2 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• MivicecoreTechnology or Integration · 5 July 2024Velco became an official IoT partner of Mivice, a motor manufacturer renowned for power and ability to adapt to demanding urban topography. The plug and play connection with the Mivice controller allows Velco IoT solutions to transform an e-bike into a smartbike capable of capturing a wide range of data to improve the riding experience, enhance security, and simplify maintenance. Brands with Mivice motors like Tenways, Reany, and Voltaire will benefit from Velco connectivity.
• PanotflagshipStrategic or Co-development Partner · 13 June 2024Panot, a visionary e-bike rental company based in Barcelona, signed a strategic and connected partnership with Velco. After signing first clients in Germany and the US, Velco continues international expansion with this new partnership marking entry into the Spanish market.
• Ultima MobilityflagshipStrategic or Co-development Partner · 19 March 2024Lyon's Ultima Mobility collaborated with Velco for an innovative made-in-France connected bike. Founded in 2021, Ultima produces bicycles with the Origin France Garantie label, 90% produced in France. Their connected bike by Velco won the Design & Innovation Award 2024 in the urban category.
• PolinicoreTechnology or Integration · 14 September 2023Polini and Velco collaborated to connect the Italian e-bike market. The Italian leader in e-drive systems became compatible with Velco's digital solution, making it easy for bike brands to launch smartbikes. Velco integrated the CAN protocol into Polini motors E-P3+ and E-P3+ MX, enabling Velco IoT to send and receive data from and to the Polini system.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Comodule: Estonian IoT platform provider for light electric vehicles, including e-bikes and e-scooters. Competes directly with Velco in providing connectivity hardware, cloud platform, and white-label mobile apps to e-bike brands and fleet operators across Europe.

Emerging players

• Wahoo Fitness: Connected cycling electronics company offering smart trainers, head units, and ELEMNT bike computers. Adjacent peer to Velco's Rider app and connected cycling experience layer, focused more on consumer cycling than fleet IoT.
• Stages Cycling: Connected cycling power meters and indoor cycling platforms. Adjacent peer providing connected cycling hardware and software ecosystems, primarily for performance cycling rather than fleet/utility use cases where Velco operates.

Broad incumbents

• Mahle SmartBike Systems: Mahle's e-bike division offers drive units with ANT+ and Bluetooth connectivity and a companion app. Comparable to Velco as an integrated connectivity-and-motor supplier to e-bike OEMs.
• Bosch eBike Systems: Division of Bosch offering e-bike drive systems with integrated connectivity via the eBike Flow app. As a dominant motor OEM with its own connected ecosystem, Bosch is both a potential partner and the most threatening vertically integrated competitor to Velco.
• Shimano: Global leader in bicycle components whose Steps e-bike system includes E-Tube connectivity. Shimano competes with Velco by bundling connectivity, app, and motor in a single offering for OEMs and fleet operators.
• Specialized: Major e-bike brand that owns Mission Control app and proprietary connectivity features. Relevant peer because Specialized demonstrates how a brand can internalize the connectivity layer that Velco currently sells to them as a third party.
• Trek Bicycle: Large bicycle brand with its own connected services (Bontrager, TyreWiz, eBike integration). Demonstrates vertical integration of connectivity that competes with Velco's white-label offering to brands.
• Yamaha Power Assist Bicycles: Yamaha's e-bike systems division offers motor units with companion apps and connectivity. Comparable to Velco as a vertically integrated motor-plus-connectivity solution targeting OEMs and fleet customers.
• FAZUA (Pon Holdings): Acquired by Pon Holdings, FAZUA supplies e-bike drive systems with integrated connectivity. Competes with Velco in providing smart, lightweight drive systems favored by premium e-bike brands.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VelcoBike
• YouTubeyoutube.com/channel/UCr7IUBV1kFOTq2exGbrw8hg
• LinkedInlinkedin.com/company/vel'co

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Velco