CLIENT:
CATEGORY:
Strategy, Fundraising
DURATION:
Ongoing
Intro
CityQ creates weather protected electric four-wheeled bike, designed for efficient and sustainable transport and delivery.
City Q required funding across multiple rounds to launch a new type of vehicle, a 4-wheeler e-bike. They were in need of both strategic and funding advice to navigate this process successfully. Additionally, they focused on enhancing their business development activities and establishing strategic partnerships and customer relationships to support the launch and growth of their new product.
“NovAzure become part of the CityQ team after our pre-production prototypes were finished.
Being a loyal and very active investor NovAzure helped us with funding activities and connecting us to a great network in the mobility space!
Together we were going through several fairs, events, pitches – not only engaging with investors but also potential customers, distributors and other stakeholders in the UK, Germany and Sweden.
Beyond giving us strategic advice, NovAzure was hands on and became part of our team.
With their support we now entering our C-Sample stage and will hopefully go into production soon!”
CEO at CityQ, Morten Rynning
How We Helped
We provided comprehensive support to CityQ, starting with an initial vetting process after which NovAzure made an initial cash investment. A sweat equity deal was agreed upon, through which we applied our resources to assist CityQ’s funding and business development activities in Europe.
Our support included a full assessment and refinement of CityQ’s pitch strategy, development of a comprehensive pitch deck, and management of a crowdfunding campaign on CrowdCube for initial bridge funding, complemented by engagement with additional business angels.
We facilitated accelerated learning by integrating the expertise of a key competitor’s CTO and his German network following the competitor’s insolvency.
Additionally, we established CityQ Ltd in the UK to kickstart its business activities and continued to support CityQ in navigating through its current and subsequent funding rounds, securing investments of over 1+10 million EUR by liaising with investors.
The Value We Created
We created value by successfully securing approximately €350k in funding through crowdfunding and engagements with business angels.
Our efforts led to the establishment of CityQ Ltd in the UK, which expanded their business presence in Europe.
Moreover, we played a crucial role in fostering key investor relations, which has ensured ongoing financial support and underpinned the business’s viability.
