Stellantis Ventures backs BeWeel

Stellantis Ventures, the corporate venture arm of automaker Stellantis, has invested one-third of its €300 million fund into 10 startups.

The venture arm, which was announced last year, targets early and later-stage startups developing “cutting-edge technologies” for the automotive and mobility sectors.

One venture with an insurance angle that is backed by Stellantis Ventures is BeWeel, a startup “with roots inside Stellantis.” BeWeel is a developer of connected e-bikes and provider of a wide range of services from purchasing to cycling through one digital app, including financing, insurance, facilitation and care services (maintenance, anti-theft).

The first e-bikes will be available to purchase from specialized cycling networks and technology-focused retailers in Europe towards the end of the year.

“Transforming Stellantis into a mobility tech company means we need to have the mindset of a startup, focused on our customers and working with a dash of impatience. We are using the strength of Stellantis Ventures to connect with companies that are developing cutting-edge technology that we believe can transform the in-cabin experience and improve the mobility sector, for our customers and for society as a whole.” – Ned Curic, Stellantis CTO.