Biohacker Summit 2023

Europe’s cycling revolution is shifting gears from new bike sales to the circular economy, as consumers increasingly seek sustainable alternatives to expensive e-bikes. Leading this transformation is Upway, the French startup that has secured €55M in Series B funding to expand its second-hand e-bike marketplace across Europe and into the US market. The round was led by Sequoia Capital, marking the Silicon Valley giant’s continued bet on European mobility solutions, with participation from existing investors including Exor Ventures, Rider Global, and Korelya Capital. This significant investment underscores growing investor confidence in the refurbished mobility sector, particularly as e-bike adoption accelerates across European cities implementing stricter emissions regulations. Sequoia Capital leads second-hand e-bike funding Sequoia’s decision to lead Upway’s Series B reflects a broader strategic shift among top-tier VCs toward sustainable mobility solutions in Europe. The firm, known for backing companies like Airbnb and WhatsApp, sees particular value in Upway’s asset-light marketplace model that doesn’t require manufacturing capabilities. “The second-hand e-bike market represents a massive opportunity to democratise sustainable mobility,” said Luciana Lixandru, Partner at Sequoia Capital. “Upway has built the infrastructure to make refurbished e-bikes as reliable and accessible as new ones, which is exactly what European consumers need.” The funding comes as European e-bike sales reached 5.1 million units in 2023, with the second-hand market growing 40% year-on-year. Unlike traditional bike retailers, Upway operates a full-stack approach, handling everything from bike acquisition and refurbishment to warranty and delivery across its European markets. European expansion drives marketplace growth Founded in 2021 by Toussaint Wattinne and Stéphane Ficaja, Upway has already established operations in France, Germany, Belgium, and the Netherlands, processing over 15,000 refurbished e-bikes annually. The company’s proprietary 20-point inspection process addresses one of consumers’ biggest concerns about second-hand e-bikes: reliability and safety. The fresh capital will fuel Upway’s expansion into the UK and US markets, where regulatory tailwinds are creating favourable conditions for e-bike adoption. The company plans to triple its refurbishment capacity and build local operations teams in new markets, addressing the logistical challenges of cross-border e-bike shipping. “We’re not just selling bikes; we’re making sustainable mobility accessible to everyone,” said Toussaint Wattinne, CEO and co-founder of Upway. “Our vision is to become Europe’s go-to platform for trusted, affordable e-bikes that help cities reduce emissions while giving consumers real alternatives to car ownership.” This funding positions Upway to compete directly with established players like Rebike and Dance, while capitalising on the growing corporate appetite for employee mobility benefits across European markets. The timing couldn’t be better, as cities from Paris to Amsterdam continue expanding cycling infrastructure and e-bike subsidies.

Europe’s urban mobility sector is experiencing a profound shift as cities grapple with congestion, emissions targets, and fragmented transport networks. While billions have poured into individual mobility solutions—e-scooters, bike-shares, ride-hailing—the real challenge lies in orchestrating these services into coherent, user-friendly ecosystems. Switch has secured €600,000 in funding to address this orchestration gap, building what could become the operating system for Europe’s shared mobility future. The funding comes at a critical juncture for European cities. Brussels mandates 55% emission reductions by 2030, whilst London’s Ultra Low Emission Zone expansion forces millions to reconsider transport habits. Switch’s platform aggregates disparate mobility services—from Lime scooters to Bolt rides—into unified booking and payment experiences, precisely what fragmented European markets require. EIT Mobility backs European urban mobility innovation EIT Mobility, the European Institute of Innovation & Technology’s urban mobility arm, led Switch’s funding round—a strategic choice reflecting the investor’s thesis around systemic mobility solutions. Unlike Silicon Valley’s winner-takes-all approach, European mobility markets demand interoperability across borders, languages, and regulatory frameworks. “Switch represents the infrastructure layer that European cities desperately need,” notes an EIT Mobility spokesperson familiar with the deal. “Rather than launching another scooter company, they’re solving the coordination problem that prevents existing services from reaching their potential.” This aligns with EIT Mobility’s €2 billion portfolio focus on sustainable urban systems rather than individual mobility hardware. The timing proves prescient. European corporates increasingly recognise that mobility-as-a-service requires neutral platforms rather than proprietary ecosystems. Switch’s vendor-agnostic approach resonates with European regulatory preferences for open competition over platform monopolisation. Platform strategy targets fragmented European markets Switch’s product addresses distinctly European challenges. Unlike US markets dominated by Uber and Lyft, European cities feature dozens of mobility providers—Tier, Voi, FREE NOW, BlaBlaCar—each with separate apps, payment systems, and coverage areas. This fragmentation creates user friction that Switch eliminates through unified interfaces. The company’s API-first architecture allows rapid integration with European transport authorities, crucial given varying municipal regulations across EU member states. Amsterdam’s mobility regulations differ markedly from Barcelona’s, yet Switch’s platform adapts to local compliance requirements whilst maintaining consistent user experiences. “European users don’t want to download seventeen apps to cross a city,” explains Switch’s founding team in their funding announcement. “We’re building the layer that makes sustainable mobility genuinely convenient.” The €600,000 will fund expansion beyond their initial market, targeting partnerships with major European cities planning integrated transport systems. Switch’s approach echoes successful European platform strategies—think Spotify’s music aggregation or Klarna’s payment orchestration. Rather than competing directly with mobility providers, Switch enhances their reach whilst capturing transaction value. This collaborative model suits European business culture’s preference for ecosystem partnerships over zero-sum competition. As European cities accelerate sustainable transport mandates, Switch positions itself as essential infrastructure. The funding signals investor confidence that mobility orchestration, not vehicle ownership, defines urban transport’s future. For European tech watchers, Switch represents pragmatic innovation—solving real problems without Silicon Valley’s reality distortion field.

Mobile gaming discovery remains fragmented across Europe, with millions of players struggling to find titles that match their preferences in an oversaturated market of over 500,000 games. This challenge has created opportunities for innovative platforms that can bridge the gap between developers and players seeking personalised experiences. Paris-based Hoora has secured €1.1 million in funding to develop what it describes as ‘the TikTok for gaming’ – a platform designed to revolutionise how European mobile gamers discover new titles through social engagement and algorithmic recommendations. The round was led by Kima Ventures, the prolific French seed fund known for backing early-stage European tech companies across diverse verticals. The investment aligns with Kima’s strategy of supporting consumer-facing platforms that leverage social mechanics to solve discovery problems. Gaming discovery funding addresses European market fragmentation Kima Ventures’ decision to lead this gaming discovery funding reflects growing investor confidence in European gaming infrastructure startups. The fund, which has backed over 700 companies since 2010, typically invests €150,000 in promising seed-stage ventures with strong founder-market fit. “Mobile gaming discovery is broken, especially in fragmented European markets where localisation and cultural preferences create additional complexity,” explains the investment thesis behind the round. European mobile gaming generated €12.8 billion in revenue in 2024, yet discovery remains dominated by app store algorithms that favour established publishers over innovative indie developers. The funding round’s structure suggests Kima Ventures sees potential for Hoora to capture significant market share in the European mobile gaming ecosystem, where social discovery platforms have historically struggled against established players. Social gaming platform targets creator economy integration Hoora’s platform combines short-form video content with gaming recommendations, allowing users to discover titles through community-generated content rather than traditional advertising or app store browsing. The approach mirrors successful social commerce models but applies them specifically to gaming discovery. The startup plans to use the €1.1 million primarily for product development and initial market expansion across key European gaming markets including Germany, the UK, and the Nordics. This geographic focus acknowledges the diverse gaming preferences across European countries, where local culture significantly influences mobile gaming adoption patterns. “We’re building the infrastructure that will connect game developers with their ideal audiences through authentic social interactions,” the company states regarding its vision for reshaping mobile game discovery mechanisms. The platform’s creator economy elements could prove particularly relevant in European markets, where content creators increasingly seek monetisation opportunities beyond traditional social media platforms. European gaming creator economy has grown 340% since 2021, creating demand for specialised platforms. This funding positions Hoora within a growing ecosystem of European gaming infrastructure companies that are challenging Silicon Valley dominance in gaming technology, suggesting potential for broader European leadership in gaming innovation.