HomeFundingZurich-based fleet management startup Avrios raises €12.8 million in Series B funding...

Zurich-based fleet management startup Avrios raises €12.8 million in Series B funding round

Zurich–based Avrios International AG is a fleet management company with over 90,000 vehicles for its business customers. Founded in 2015, the startup recently raised €12.8 million in a Series B funding round led by Swisscom Ventures and Edenred Capital Partners, with additional funding from existing investors Lakestar and Notion Capital. Columbia Lake Partners also participated in the round.

“We will continue to develop Avrios as the platform that companies turn to in order to to offer their employees a tailor-made mobility solution, often with a digital and automated fleet management tool as a starting point,” said Andreas Brenner, Avrios CEO.

The way employees use mobility is starting to change, this change is making fleet management tasks increasingly complex. Avrios’s solution allows medium-sized companies and large corporations to digitise and automate all the data associated with their fleet.

“With our solution, all the unstructured data in different languages and from different sources ​​can be imported from any conceivable format at the click of a mouse,” said Brenner. “There is an enormous amount of information that is essential for fleet management and Avrios saves a lot of time through automated input and analysis. Avrios gives fleet managers a complete overview of their fleet with all the information, such as purchase or lease costs, damage, mileage, and local compliance requirements (e.g driver’s license checks, UVV checks and driver training), aggregated into a single platform.”

This is becoming more and more important, especially as the complexity in how people move around continues to increase. Companies are starting to look at electric vehicles and car-sharing models as well as the possibility of offering completely new solutions, such as e-bikes, to employees. There is a move towards introducing more flexible mobility solutions, replacing the traditional one-car-per-person model.

Employees can use a ‘tailored mobility solution’ to obtain exactly the mobility they need individually. However, the greater the choice of mobility concepts, the more demanding the task of the fleet manager becomes. This additional choice will require negotiations with new, larger and smaller suppliers. Avrios ensures that executives will be in complete control and be able to take informed decisions with the right data immediately at hand.

“We are very pleased about the successful completion of the Series B financing round,” added Brenner. “It bears witness to the confidence that our existing investors, as well as the new investors, have placed in us. With the capital, we will develop further exciting products for our customers, such as the Avrios Fleet Management academy or bespoke transportation solutions that companies can offer to their employees.”

Mary Loritz
Mary Loritz
Mary served as Head of Content at EU-Startups.com from November 2018 until November 2019. She is an experienced journalist and researcher covering tech and business topics.

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