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IFP Energies nouvelles (IFPEN) has just acquired a 10% stake in K-Ryole, a company specializing in smart electric trailers and trolleys.
K-Ryole’s effortless traction technology enables professionals to transport heavy loads weighing hundreds of pounds, by bicycle or on foot, without feeling any weight behind them.
Launched in March 2016, the first smart trailer for bicycles cancels the weight transported thanks to its self-regulating motors, thereby reducing the environmental footprint of urban logistics. In October 2018, K-Ryolead apted its technology for the construction industry, creating Kross, a smart electric trolley designed to address safety, physical effort and productivity issues encountered during handling operations on jobsites. K-Ryole has won more than 40 awards for its innovation in recognition of a rare potential in the “bike tech” sector. Thanks to this investment, the French start-up is setting its sights on new challenges. « Our objectives for 2020 are to continue to expand our product range in order to provide our customers with ever more value, in France and then Europe » explains Gilles Vallier, co-founder of K-Ryole.
« This investment will be accompanied by a technological partnership with IFPEN enabling K-Ryole to develop its range. With this new acquisition, IFPEN also reinforces its positioning as an innovation player supporting soft mobility » added Nathalie Alazard, Director of IFPEN’s Industrial Development Business Unit.
The funds raised have been supplemented by a zero percent non-dilutive RAISE SHERPAS loan of €100 k, secured by K-Ryole as winner of the 2019 David and Goliath prize, awarded in recognition of the most outstanding partnership between a start-up and a major group (Bouygues Construction in this case).
To follow the adventures of the smart handling trolley, go to LinkedIn:
IFPEN - Anne-Laure de Marignan - email@example.com - +33 (0)1 47 52 62 07
K-Ryole - +33 (0)9 72 14 48 94 - https://k-ryole.com
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01 47 52 62 07