Paris-based SHARELOCK raises €4 million to unlock the potential of its shared locks network

Sharelock

Just about a year after its start, SHARELOCK just closed a €4 million seed round, welcoming the investors Breega, as well as the Banque des Territoires (CDC).

Founded in 2020, the founders Nicolas Louvet and Alexandre Molla have identified one main obstacle to the large-scale adoption of soft mobility: parking. SHARELOCK’s ambition is to address this challenge by developing hardware and software solutions based on their expertise and unique data.

Nicolas Louvet explained: “Parking is at the heart of the bicycle system because bicycles remain stationary more than 95% of the time! According to our studies, solving, on a large scale, the issue of secure parking is to guarantee at least a doubling of the modal share of cycling, a real opportunity for massive impact in our cities!”

SHARELOCK develops, deploys and operates the world’s first network of shared locks, accessible via an application, anywhere in the city, all the time. In a few clicks, users can find a lock at their destination, reserve it if needed, and lock their bike once they arrive. In case of vandalism, the user receives a notification and can react accordingly. In case of theft, SHARELOCK automatically triggers the reimbursement of a lump sum, thanks to the integration of an innovative insurance product.

Beyond the founders’ recognized expertise in the mobility and operations sector, SHARELOCK develops solutions to create and analyze unique mobility and flight data. This data is shared with the company’s key partners, such as cities and communities, or mobility operators, through dedicated online tools. It is particularly valuable for the development of relevant local mobility policies. This unique data is also extremely valuable when it comes to developing new products and features, ranging from simple trip optimization tools to disruptive insurance product deployments.

SHARELOCK already has a team of 10 people and will use these new funds to hire new talents, accelerate the production of its padlocks in an industrial phase that has already begun, in anticipation of a wider deployment in the Ile-de-France region and in partnership with mobility operators. The young company is also working on the deployment of innovative solutions in the insurance sector.

“Welcoming such renowned investors is humbling, while giving a powerful signal to the entire team. We look forward to working with Breega, a player known for its ambitious bets, but also for its ability to dive into the operational side of things to help the founders grow. The Banque des Territoires brings us the support of a major public player, a financial partner of local authorities in the development of territories and especially in soft, clean and shared mobility solutions”, explained SHARELOCK cofounder Alexandre MOLLA.