Intro
| Strategy
| Ongoing
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. 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 connecting 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 business development activities in Europe.
Our support included a full assessment and refinement of CityQ’s pitch strategy and development of a comprehensive pitch deck.
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 journey.
The Value We Created
We created value by introducing CityQ to a strong network of aligned stakeholders, including early supporters and potential long-term partners.
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.
