K-Ryole, an electric vehicle designer, has raised €10 million in funding from Quadia, Bpifrance, Ifpen Edify, Aquiti (via the Naco fund), and Ardev. The startup, founded in 2016 by Nicolas Duvaut and Gilles Vallier, creates electric trailers to allow professionals to transport heavy loads by bicycle. Since 2019, K-Ryole has also manufactured electric handling carts, which opened up a new customer base in the construction industry. The purpose of this funding (which was completed with about 70% in equity) is to continue the company's industrialization plan and to keep innovating. This round will enable K-Ryole to conduct a commercial and marketing offensive to better promote its products, including abroad.
Quadia is an impact investing firm that invests in sustainable companies that have a positive social and environmental impact. Bpifrance is a French investment bank that provides financial support to small and medium-sized businesses. Ifpen Edify is a French investment fund focused on energy transition and innovation. Aquiti is a French investment fund that invests in innovative startups in the Nouvelle-Aquitaine region of France. Ardev is a French venture capital firm that invests in early-stage companies.
K-Ryole's electric trailers and handling carts are part of a growing trend toward sustainable transportation solutions. The company's products are particularly relevant in urban areas where traditional vehicles are often impractical or impossible to use. The company's focus on innovation and sustainability has attracted the attention of impact investors such as Quadia and Ifpen Edify. This latest round of funding will help K-Ryole expand its reach and continue to create sustainable transportation solutions that benefit both businesses and the environment.
