Squair advises the Italian venture capital fund CDP Venture Capital in raising funds for Otoqi

Otoqi is one of the European leaders in conveying and fleet management services. Founded in 2016 with a car concierge service for dealership after-sales customers, Otoqi has gradually generalized its positioning to cover all last-mile logistics needs for vehicles and connected vehicle fleet management.

The funding round was led by its historical shareholders: Seventure, Asteret Verve as well as the Digital Transition Fund from CDP Venture Capital and Swiss Post Ventures. CDP Venture Capital's investment was partially financed by the funds allocated under the Piano Nazionale di Ripresa e Resilienza, in accordance with the Next Generation EU Directive.

CDP Venture Capital is the largest venture capital manager in Italy and among the largest in Europe.

Otoqi had already raised a first round of funds in 2021, which allowed it to set up in Italy and Germany. With this new round of 10 million euros, Otoqi plans to invest more than 2 million euros per year in its technological platform, with a priority on automation via artificial intelligence and the development of new tools for players in the sector. This major new investment will also allow Otoqi to industrialize its services and extend them to six new countries in Europe, with the next launches scheduled for early 2025.

CDP Venture Capital was supported in this transaction by Olivier Lopez, Corporate—M&A partner at Squair.