Cohen & Gresser (AARPI) assisted Otoqi in its new €10 million Series B round of funding. This funding sets a new strategic turning point for the Otoqi group.
Cohen & Gresser, a law firm specialized in business law, is pleased to announce that it has advised Otoqi in its new €10 million Series B round of financing from its historical shareholders: Seventure, Aster and Verve Ventures, and from two new investors: Digital Transition Fund from Cdp Venture Capital SGR (CDP VC and Swiss Post Ventures.
Founded in Paris in 2016, Otoqi is a leading provider of vehicle convoying and fleet management services. Three years after its Series A and already present in three European markets (France, Germany, Italy), Otoqi now plans to expand its convoying and fleet management services to six new countries in Europe with the next launches scheduled for early 2025. The aim is to reach 100 million euros in annual sales within four years, and thus strengthen its position as one of the European leaders in the sector.
To support this growth, the historical partners have decided to reinforce their initial investments, alongside new European investors Cdp Venture Capital and Swiss Post Ventures, thus renewing their "trust in Otoqi's ability to continue innovating and creating value in its sector." (Bruno Rivet, Investment Director, Seventure Partners).
Cohen & Gresser advised Otoqi with a team comprising partner France Portmann Loy and associates Pauline Thuet and Eléonore Messina. Cdp Venture Capital SGR's Digital Transition Fund (CDP VC) was advised by Squair (Olivier Lopez, partner) and the Italian firm QLTLex (Francesco Fiore, Nicola Romano, partners, Lorenzo Scapellato, counsel).