We are excited to announce our latest investment in Avrios, a fleet management platform which aggregates data, automates processes and offers tailored mobility solutions. This CHF 14 million Series B round fuels product development and acceleration of current rapid growth.
Founded in Zürich in 2015, Avrios disrupts the corporate fleet management market by enabling fleet managers to save time and money with an intuitive, user-friendly platform, which centralizes data of fleet expenses. All information related to the fleet such as purchase or lease costs, damages, mileage and local compliance requirements (like driver's license checks, UVV checks or driver training) are aggregated into a single platform.
Avrios’ AI solution automates unstructured data collection processes and provides automated analysis and meaningful insights to turn into specific action items. Its solution manages more than 80,000 vehicles and is used by more than 800 customers, including Alko, Deutsche Welle, DB Schenker and Kasto.
This funding round follows a 1.8 million CHF seed round in 2015 and a 6 million CHF series A in 2017. Avrios will continue to invest in product development and customer success, as well as increase sales and marketing efforts to accelerate the current rapid growth. Edenred Capital Partners participates in this CHF 14 million Series B alongside existing investors, Lakestar and Notion Capital, as well as new investors Swisscom Ventures and Columbia Lake Partners.
Norbert Furnion, Managing Partner at Edenred Capital Partners, states: “Following our investment in Fretlink in April of this year, our investment in Avrios reinforces Edenred Capital Partner’s Fleet & Mobility portfolio and expertise, and underlines our focus on building a portfolio of leading Fleet & Mobility solutions across Europe.”
Andreas Brenner, CEO and Co-founder of Avrios, declares: “We are very pleased to welcome Edenred Capital Partners as investors in Avrios, and to see the Edenred Group, a world leader in the fleet and mobility field, join our mission. Edenred’s know-how and the additional capital will allow us to further increase the pace at which we develop the most innovative fleet and transportation management platform for companies“.