The US Department of Transportation said in 2021, the average age of vehicles in the US was 12.1 years old. More Americans are keeping their automobiles longer as millions struggle to make ends meet due to the ongoing economic climate.
This also leads to more vehicle breakdowns due to a variety of reasons including lack of fuel, flat tires, dead car batteries, and faulty brakes, which cause millions of Americans to be stranded on the road while waiting for help mostly always comes late. This problem is not limited to people in the United States. On the other side of the pond, people are facing similar problems. One startup is on a mission to revolutionize the world of emergency roadside assistance services.
hlpy is an Italian startup that is reshaping the roadside assistance world, thanks in part to services provided in a fully digital mode such as roadside assistance, vehicle repair, and continuation of driver mobility.
hlpy announced today it has completed a round of collection of around 7.5 million euros with a series A oversubscription of 5,1 million euros. The round was led by Synergo Capital, with participation from CDP Venture Capital and The Techshop, which joined as co-investors, convertible instruments, and debt.
hlpy will use the new capital infusion to accelerate its international development plan and increase the services offered by the digital platform in order to be a key player in the new mobility 4.0 scenario. Currently, hlpy is the only player to have an integrated front-end, customer, operational platform, and emergency network in a native digital mode.
Valerio Chiaronzi, Graziano Cavallo and Enrico Noseda founded in May 2020 with the aim of reshaping the roadside assistance industry. Stefano Sarti joined the co-founders in August 2022 as a founding member to support the international market development process.