First Avular, now Ulu. The Eindhoven start-up has received a substantial investment from the Chinese investor Yu Ming Fang. Participant in the final round of Startupbootcamp HighTechXL, Ulu has received an investment of 500,000 euros.
Ulu makes a USB dongle for cars which retrieves information about the locations, speed, handling and data from the central computer of the vehicles. This information is sent to a Ulu dashboard, where the user can gain an insight into all kinds of data about their driving and their vehicle. The Ulu dongle can also be used to track a car after it has been stolen or to notify others if it has been involved in an accident.
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Ulu took part in the second round of Startupbootcamp HighTechXL. After the demo day, where all the start-ups presented their products to potential investors, the start-up came into contact with Yu Ming Fang, who already invested 450,000 euros in Startupbootcamp participant Avular through the Fang Group. Now he’s investing 500,000 euros in Ulu.
Jošt Faganel, co-founder and CEO of Ulu, revealed how happy he was with the investment in a press release: “The Fang Group is well renowned, which not only shows that there is a high level of confidence in our product, but also that we are on the international map. We are on the right track.”
In exchange for the half a million euros, the Fang Group will receive shares in Ulu and director Mina Yu will join the Supervisory Board of the company founded in 2014.
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