Otoqi

Following a fundraising process led by Ader Finance, Otoqi raises €6m from Aster Capital, Seventure Partners & Verve Ventures

Otoqi handles smart care transportation based on AI and a vallet service for car manufacturers, distributors, rental players and car-sharing specialists and has just raised €6 million to further accelerate its growth.

The major changes currently happening in the automotive industry fuels new business opportunities for Otoqi. Founded in 2016 by Sébastien de Limon and Arthur Darde, Otoqi was initially specialized in conveying private cars to garages. Then Otoqi widened its offer and became a platform offering services to all automotive players (manufacturers, dealers, renters, car-sharing specialists, etc.).

Otoqi relies upon 400+ independent valets, who complete missions according to the needs of its partners and clients. For example, the start-up is in charge of moving Zity’s electric cars (Renault’s car-sharing service); it brings the rental cars of the start-up Virtuo to the homes of its customers; and allows potential buyers to test drive the Citroën Ami in dedicated locations. Freelancers who work with Otoqi also take care of cleaning and minor car repairs.

“Every year, there are new use cases”, observes Sébastien de Limon. In 2020, for example, Otoqi signed a contract to bring Man Trucks to garages when they need to be serviced. “Our strength is short distances. But sometimes we also make trips of more than 600 or 700 kilometers,” says the entrepreneur.

Highlighting its ambition, Otoqi just launched its service in Italy and plans to do the same in Switzerland by the end of the year. “We need to grow very quickly because the market is currently structuring itself on a European scale,” comments Sébastien de Limon. The start-up is aiming for €10 million in revenues in 2022, compared with around €3 million in 2020.

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