UFODRIVE On The Road To Reach Its 1.5 Million Pound Milestone

The fleet rental platform secures 93% of its crowdfunding target and is looking towards further expansion.

UFODRIVE, an electric car and fleet rental startup, has already reached 93% of its 1.5 million GBP (€1,69 million) crowdfunding target within 10 days of launch. The fundraising process is due to end on February 15, 2021.

The money will help the company to acquire further rental locations, increase its fleet, and open a US subsidiary.

To expand further, it will launch new Seedrs crowdfunding operations. Seedrs is an equity crowdfunding platform which has helped more than 250 startups raise funding in 2020.

Besides benefiting from a clean rental offer, investors might get another revenue stream, “generated by its digital eMobility Solution platform, which is available as a SaaS (Software as a Service) offering fleet managers an easy transition to an electric-only fleet,” UFODRIVE explained.

UFODRIVE has recently signed a partnership with Ark2030, an organization that supports projects with large-scale impact on ecosystem regeneration and carbon-footprint reduction around the world.

The startup has also partnered with what3words, a proprietary geocode system that identifies locations with a resolution of three meters. The solution will help UFODRIVE’s car renters to exactly locate and share their location and to find the nearest charging points.

UFODRIVE will also co-operate with Sono Motors, a German company which produces electric cars with integrated solar modules that enable driving autonomy up to 255 kilometres.

Launched in 2018 and headquartered in Findel, UFODRIVE operates a booking platform dedicated to electric cars. The company claims 17 rental hubs of the all-electric fleet, in eight European countries, as well as a network of 140,000 charger stations across Europe. Its fleet includes Tesla Model 3 and S, Hyundai Kona EV, Jaguar i-Pace, and Nissan Leaf.

Despite Covid-19 and subsequent stay-at-home orders, the 8-man company said it has increased its business by 108% in 2020.

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