Target Global leads €55m funding round for Flash

The Financial Times has reported an investment of €55m from a consortium of VCs led by Target Global and followed by Signals Venture Capital. Unquote understands Paris-based VC Idinvest Partners was also involved in the deal.

Lukasz Gadowski, the co-founder of Flash and the founder of Delivery Hero, mentioned in the FT report that the company has focused on vehicle and software design for its scooters up until now. He hopes to begin with the design and building of the vehicles with this financing.

In June 2018, Target Global announced the Target Global Mobility Fund, an evergreen VC fund with initial commitments of $100m and an optional target of $300m. The fund invests in startups in the transportation sector, with a focus on Germany and Israel. Target companies could include automotive companies, public and private transportation companies, and freight and logistics companies. At the time of launch, Unquote reported that the VC’s average check would be between €1-5m, with the capacity to invest up to €20m into a single startup.

Previous funding
This is the first seed funding round for the six-month-old company. Target Global has been involved with Gadowski on other projects such as Delivery Hero.

Company
Headquartered in Berlin in 2018, Flash plans to develop and deploy an environmentally-friendly transportation system. It is starting by launching electric kick-scooters. The company was co-founded six months ago by Gadowski alongside veterans of Uber and McKinsey.

People
Flash - Lukasz Gadowski (co-founder)

 

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• Topics
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• DACH
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• IDInvest Partners (AGF Private Equity)
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