Norway-based mobility technology provider Urban Infrastructure Partner (UIP) has attracted Nkr125m ($15m) in funding from investors including car dealership and finance supplier Møller Mobility, Nordic9 has reported.
Møller Mobility, a subsidiary of automotive trading business Møllergruppen, took a 20% stake through its investment and was joined by Selvaag Invest, which is owned by property holding company Selvaag Gruppen. Selvaag Invest has retained a 33% stake in UIP, whose founding team now hold 43% of the company.
Founded in 2014, UIP has developed an urban mobility software platform that facilitates bicycle sharing networks by powering user-friendly software apps, data tools and bike locks.
The platform could also theoretically be adjusted for use with other urban management applications such as car sharing, electric scooters, environmental monitoring and waste control.
UIP’s technology is currently used by bike sharing systems in the Norwegian cities of Oslo, Bergen and Trondheim, and in Edinburgh, Scotland. Selvaag Invest had previously invested an undisclosed sum in the company in 2015.