Velco develops connected solutions for electric bikes. The company from Atlantic France has been chosen by Valeo to integrate connectivity on Cyclee, an electric bicycle motor with an integrated gearbox designed by the automotive supplier. This partnership agreement will allow the Nantes-based startup to deploy its expertise on a large scale.
Valeo designs innovative systems and equipment for the world’s leading car manufacturers. The company is very active in the field of future carbon-free mobility and has recently joined forces with the CEA and the CNRS to develop research programmes on these topics.
The surging trend of connected e-bikes is boosting new market opportunities that Valeo wants to seize. Thanks to a collaboration with Velco, the €17.4 billion company extends its know-how in the bicycle sector.
A connected e-bike with an automatic gearbox
Valeo has developed an electric motor with an integrated automatic gearbox that eliminates the need for a derailleur on an EAB. Known as Cyclee, this complete digital solution provides services to bicycle professionals and users. According to Valeo, around twenty brands are already equipped with this new product.
Specialising in connected solutions for electrically assisted bicycles (EABs), Velco is providing connectivity for this new e-bike motor. The Nantes-based startup has developed a digital platform for EAB assemblers as well as a diagnostic and maintenance tool made for bike shops. It has also designed an application for cyclists who use a Cyclee model that allows them to customise certain engine parameters.
With 45 employees, Velco expects a turnover of €2.5 million this year and aims to double this figure by 2023. The Atlantic France based company also plans to expand internationally. Already established in Germany since last year, Velco is going to deploy its solutions in Switzerland, Austria, Belgium and the Netherlands. The young company is also planning to position itself on the Spanish, Portuguese and Italian markets.