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Fark Labs, the innovation center of Fark Holding, announced today that its first incubated startup, DUCKT, has been successfully acquired by Micromobility-as-a-Service (MaaS) pioneer ACTON Inc., demonstrating the potential for corporate ventures and early-stage investments to generate sustainable solutions and financial rewards. 

After receiving pre-seed funding from Fark Labs in May 2019, DUCKT quickly moved from ideation to mass production and spun off from Fark Labs in December 2020 after closing its first seed investment round with a valuation of 4 million euros. Incubated by Fark Labs and backed by F+ Ventures, EIT InnoEnergy and angel investors, DUCKT has become one of the leading providers of docking and charging infrastructure solutions for electric micromobility vehicles. 

“Since we incubated and provided seed funding, DUCKT has been able to demonstrate the viability of its micromobility infrastructure approach, acquire significant external funding, and eventually reach great heights worldwide as an innovative docking and charging infrastructure solutions provider,” said Fark Labs Founder Ahu Serter. “We are honored to have been a part of DUCKT’s success from the beginning in designing a solution that solves one of the most significant facing micromobility today – building a sustainable, smart parking and charging network.”

“Fark Labs was the birthplace of DUCKT, and it was there that we, the co-founders, first met. It has always been the place where we could find the right experts to answer all of our questions as we developed our concept. Their connections gave us the extra boost we needed to expand our client base and VC network. Most importantly, it was the only place we trusted to grow our startup until we spun off and began our journey toward realizing our vision. It was a pleasure to innovate with the Fark Labs team,” said Cagri Selcuklu, CEO and Co-Founder of DUCKT.

About Fark Labs 

Fark Labs is a global innovation and transformation hub that aims to build a better future for all. It leverages its parent company Fark Holding’s 54 years of industry expertise and its forward-thinking perspective to help corporations lead innovation and startups navigate the mobility ecosystem. Fark Labs is a hands-on incubation, acceleration, and investment hub supporting entrepreneurs from idea to launch. Established and run by entrepreneurs, Fark Labs understands the complexities and hardships of building a startup. From aspiring founders to growth-stage entrepreneurs, it can scale your vision into a successful business. 

About DUCKT:

DUCKT develops smart urban mobility solutions for docking, locking, and associated charging infrastructure to solve some of the biggest security and regulatory challenges for cities, companies, and users. With 1500+ charging stations deployed in over 20 cities around the globe, DUCKT has received international recognition including 1st at Startup Estonia, TC Top Pick in mobility 2019 by TechCrunch Disrupt Berlin, one of 7 startups to watch in 2020 by Google Startups, and RedDot 2021 in Urban Design. Setting the USB standard for micromobility vehicles. For more info, visit https://duckt.app/

About ACTON:Based in Silicon Valley, ACTON is an innovative leader in end-to-end micro-mobility solutions for the B2B and B2G market. With a seasoned team of experts in Product Design, Transportation, and IoT Mobility Solutions, ACTON has designed and patented first-of-its-kind products that have set industry standards, including the launch of the world’s-first street-ready micromobility e-scooter solution. Led by CEO, Janelle Wang, a pioneer in the micromobility space and “Remarkable Women in Transport 2020”, ACTON has deployed their connected e-vehicle technology platform in over 100 cities worldwide, with MILLIONS of logged e-rides and a robust patent portfolio, including the first swappable e-scooter battery technology. For more info, visit https://www.actonglobal.com/