Participated · Equity · Sep 2022

Lightyear develops an ultra-energy-efficient automotive platform centered on the Lightyear One, which combines an efficient powertrain, a high-yield solar roof, and optimized thermal management to minimize charging needs. The company claims Lightyear One consumes only 83 Wh/km and achieves about 725 km WLTP range, plus 7,000–20,000 km of annual solar range depending on conditions; the car is priced at €149,000. Lightyear says the vehicle’s solar roof can supply up to 80% of an average driver’s annual charging needs in San Francisco. The company was founded in 2016 and its team includes former employees from Tesla, Audi, and Ferrari. After Covid-19–related delays and earlier capital constraints, Lightyear has prepared for serial production and is working toward customer deliveries and broader commercialization. It also plans a second, mass-market solar model targeted for production in 2024. Lightyear has spent six years building a broad patent portfolio to support highly efficient solar electric vehicles, including the premium Lightyear 0 which was priced at €250,000 and could gain up to 70 kilometres of range per day from the sun. The Lightyear 0 was also touted as the world’s most aerodynamic commercial car with a 0.175 Cd drag coefficient. In January the company suspended production of the Lightyear 0 to focus on a lower‑priced €40k Lightyear 2. Shortly after, parent Atlas Technologies BV was declared bankrupt and the business was restructured into a new entity, Lightyear Technologies, with a reduced workforce of about 100 people (down from ~600). Today Lightyear concentrates on developing and producing solar‑integrated technologies for third‑party vehicle manufacturers. Historically the company has raised over €168.4 million in funding. Lightyear develops solar-powered electric vehicles, beginning with the production-ready Lightyear 0 that uses curved solar panels on its roof, hood and trunk to top up the battery. The company claims the car can run for weeks or months without charging depending on climate, and that plugged-in charging provides about 32 kilometres of range per hour. Interiors are vegan and made from recycled and sustainable materials, and the vehicles will be manufactured by Valmet Automotive in Finland. Lightyear plans a high-volume series with a starting price of €30,000 while also offering limited models (one around €250,000); an initial run of 946 cars was announced. The company reports 10,000 reservations—5,000 each from LeasePlan and MyWheels. Lightyear aims to bring Lightyear 2 to market by 2025 and pursue international expansion beyond Europe. Lightyear is commercialising an electric vehicle with integrated solar cells to minimise charging needs and grid dependency. The company's first model, the Lightyear One, is claimed to have a 440-mile (725 km) range and can recharge from its solar roof. Headquartered in Helmond and founded in 2016, Lightyear plans to put the car on test tracks in Q2 2021 and begin commercial availability by the end of Q4. Recent partnerships include Bridgestone for low-rolling-resistance tyres and a technology agreement with Royal DSM to scale the solar roof. The team combines young talent with industry experience from Tesla, Audi, and Ferrari, and TIME magazine named the Lightyear One one of the '100 best inventions' of 2019. Financially, Lightyear had raised €85.3M to date, including a €40.2M round in March 2021 led by Zero Point Holding BV. Lightyear develops an ultra-energy-efficient automotive platform and the Lightyear One, a solar-equipped electric vehicle designed to minimise charging needs and grid dependency. The company says the Lightyear One consumes just 83 Wh/km, giving about 725 km WLTP range and 7,000–20,000 km of clean solar range per year for an average driver. Its technology portfolio includes an efficient powertrain, a high-yield solar roof, and optimized thermal management. Lightyear announced the Lightyear One in 2019 and has been selecting a production partner while preparing for first customer deliveries by the end of 2021. The company was founded in 2016 and is pursuing further equity financing to accelerate development of a mass-market vehicle. Recent partnerships include a commercialisation agreement with Royal DSM to scale the solar roof solution.

Participated · Equity · Feb 2018

Cityscoot, founded by Bertrand Fleurose in 2014, operates an electric moped‑sharing service in Paris, Nice, Milan and Rome. Users can book scooters through Cityscoot’s app with three clicks, and since October 2019 Paris commuters can also book and pay via the Uber app under a strategic partnership. The company has deployed a fleet of about 7,000 electric mopeds and plans to increase it to 8,000 following the recent funding. Cityscoot aims to open its service in two new European cities in 2020 and specifically planned a Barcelona debut in May 2020. The startup joined the Next40 club and described the financing as a proof of confidence in its ability to develop soft mobility in metropolitan areas. Competitive dynamics noted in the article include Coup’s exit from the market and Tier Mobility’s announced move into electric mopeds. Cityscoot operates an electric scooter-sharing service in Paris with roughly 1,600 scooters available. Users book via phone, unlock with a code, and each scooter includes a helmet in under-seat storage. The company leases its scooters and uses battery-swap cars to replace batteries before they die, making the business capital-intensive. Cityscoot reports about 70,000 clients, 7,000–9,000 rides per day, an average ride length of 15 minutes, roughly €3 revenue per ride (users pay €0.20 per minute with packs), and about 4–6 rides per scooter per day. It plans to expand to Nice and three other cities (including one in Switzerland and one in Italy) and aims to operate a fleet of 5,000 scooters by the end of 2018.