MaaS start-up secures €1.4M to accelerate international expansion

MaaS start-up secures €1.4M to accelerate international expansion

Funding will speed up its international roll out

Technology provider specialising in the deployment of multimodal solutions and Mobility as a Service (MaaS) Lyko has announced it has closed a funding round of €1.4 million. 

The funding round was led  with international investors Habert Dassault Finance, Afrimobility (Akwa Group) and business angels, and banks, including Bpifrance, Crédit Mutuel and Caisse d'Épargne.

Emmanuel Chochoy, founder and CEO of Chochoy Invest, said: “Lyko stands out for its bold vision and resilient team, going beyond start-up status. 

"This visionary company doesn't just follow trends, it creates them, helping to shape the mobility of tomorrow. At Chochoy Invest, we have shared this belief in innovation and positive societal impact since 2021. 

"It is with complete confidence in Lyko's vision and values that we are proud to play a key role in its journey, aligning our aspirations for a smarter, more sustainable city.”

The French start-up is said to be committed to maintaining a strong and constant culture of innovation in order to fulfil its mission of connecting the mobility world.

Laurent Bouzon, co-founder and CEO of Lyko, said: "This round of financing marks a significant turning point in our development. We are delighted with the enthusiasm and confidence our investors have shown in us. 

"However, our objectives have not yet been achieved... The challenge of this fundraising is to enable us to finance the acceleration of our international development and achieve our objectives.”

Lyko has a "simple" connection that enables its customers to cover all the mobility needs through its "powerful" APIs platform including planning, booking and payment for thousands of public and private mobility providers around the world. 

It's endorsed by cities like Jakarta and companies including Air France, Volkswagen, the IMA Group and Thales.

In the coming months, Lyko aims to strengthen its API platform to improve its performance and robustness.

It plans to triple the number of tech profiles by the end of 2024, with its main objective is to "take its technology further into other international markets in order to accelerate its expansion".

Adrien Hugon, co-founder and CTO, said: “This fundraising will help us to significantly accelerate our technological development and take us to a new level. 

"As a visionary company, we aspire to an even more ambitious future, with the aim of establishing ourselves as the undisputed leader in the global mobility sector.”

With over a million indirect users already, Lyko aims to triple this number in the short term and remains "as determined as ever to revolutionise tomorrow's mobility".