Mooevo open a financing round with Fellow Funders with the initial objective of attracting 800,000 euros, expandable up to one million -125% of overfunding allowed by law-. The round of equity crowdfunding It will be carried out through the Crowd Investment division of Fellow Funders. The funds raised will be used for the growth and expansion plan of the company dedicated to the design of electrical solutions that facilitate mobility.
The opening of the round takes place the same week in which the Post Office announces the introduction of 48 new assisted delivery cars to facilitate the distribution of the last mile in the delivery on foot of its postmen, as this newspaper advanced. Half of these assisted delivery cars that Correos will soon test in the cities of Madrid, Valencia, Vitoria, León and Cornellá, have been designed by Mooevo.
The new mobility solution powered by Mooevo uses a self-balancing platform (pusherboard) attached to the chassis into which the delivery cart fits. Its engine is electric and produces zero emissions.
Correos began its collaboration with Mooevo after awarding her as the winner of the Legnica Network in 2020. Since then, they have worked together in the design and manufacture of a device that facilitates the work of the delivery men. The result of this is the birth of these new motorized postal carts, which will facilitate the last-mile distribution process.
This is not the first collaboration with the public sector of Mooevo, a company that was on the front line in the fight against Covid-19 during the toughest phase of the pandemic. The company put at the service of the health workers of the IFEMA field hospital its driving platform that can be attached to wheelchairs and to cages and logistics carts to facilitate the transfer of patients and medical supplies without causing them greater fatigue than that already caused by the hospital saturation.
This solidarity action by Mooevo does not differ much from the reason why the company was created. Its co-founders, Ignacio Estellés and Pablo Carrasco, began this search for electric mobility solutions to improve the life of their friend and partner José López, who had a disabled son with problems moving around in his wheelchair. At that time, Mooevo did not yet exist as a company.
After several unsuccessful experiments, Carrasco, López and Estellés managed to design an electrical device that they later improved, making it possible to attach it to wheelchairs. In this way, the degree of effort required to transport the person is substantially reduced. After patenting the device, they founded Mooevo, in the company of other partners who joined the project with the aim of revolutionizing the electric mobility.
Mooevo is a company with a strong ESG character. Not only for its social work, but also because it focuses its research on the search for electric and sustainable mobility solutions that do not harm the environment and improve the quality of life of users. His work has been recognized by various organizations, receiving in addition to the Correos award mentioned above, the Expansión Startup 2020 Award in the category of Mobility and Smart cities, among others.
Its solutions have been exhibited throughout this year 2021 at the Tomorrow Mobility World Congress from Barcelona. The company will be present at the Ship2B Impact Forum, which is held at the end of this month of November focused on the dialogue on impact economics. And in December it will also participate in the Clean Cities ClimAccelerator 2021 in Madrid and Vienna. In addition, the Mooevo team has been selected for the MIT Enterprise Forum, an event focused on promoting entrepreneurship and innovation in Spain on November 30 at IESE.
Operation with Fellow Funders
With these projections, the Mooevo team has turned to Fellow Funders to initiate a round of financing through the method of equity crowdfunding, whereby investors become part of the shareholders of the company. This is the second time that the company has carried out a financing round through the Crowd Investment division of Fellow Funders, after a first round in 2020 in which more than 330.000 euros.
Fellow Funders is a firm specialized in alternative investment whose platform of participatory financinga, approved and supervised by the CNMV is today a benchmark in Spain. Since its founding in 2016, Fellow Funders has more than 33,000 registered investors. He has successfully led 50 investment rounds for a total of 35 million with which he has financed high value-added projects in different sectors. Companies with the ESG seal have a special place on the platform. Not surprisingly, financing rounds have recently been carried out with multiple companies in the field of Socially Responsible Investment, such as Simply Solar or Laminar Pharma. And now Mooevo.
Ernesto Munoz, partner and director of the Crowd Investment division of Fellow Funders: “When MOOEVO approached us in 2020 for its first round we were able to get an idea of the usefulness of their products for private individuals. What we did not imagine is the impact they have had, have and will have on different sectors of our society. That is why we have reached out to them for the second time with alternative financing.
Ignacio Estellés, CEO and Co-Founder of MOOEVO: “Our first round through Fellow Funders was a success and allowed us to promote our first products. Now we come with an expanded range of devices to respond to the needs of more sectors, as well as to tackle growth opportunities at an international level. So we have not hesitated to go back to alternative financing, and doing it together with some references like Fellow Funders is a luxury “.