[Updated] Vugo Hits $1.3m, Lifts Round Cap To $1.5m

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Updated 6/25 12 CST: Vugo has reached $1.3m and raised the round cap to $1.5m.

From Bellefeuille: “…We decided to oversell the round because of our NYC win…When we won our lawsuit NYC became a focus as the most valuable media market in the world, in addition to being one of the leading rideshare markets with over 100,000 for-hire vehicles. The additional capital will be used for operational expenses in NYC including opening an office there probably in Fueled Collective’s NYC location.”

Updated 1/31/2018 10am CST: cofounder James Bellefeuille says they have raised $760,000 of this round.

Original 10/19/2017: Minneapolis-based Vugo is raising $1m via SAFE note to support the expansion of their automotive media platform.

Vugo was formed in 2015 by CEO Rob Flessner, James Bellefeuille (COO) and Eugene Kurdzesau (CTO) to provide technology tools for drivers to implement in-ride media experiences, ultimately extending that into the autonomous vehicle market.

“Our whole approach has changed as we are no longer going direct to driver,” Bellefeuille says, adding, “We are exclusively engaging with fleets,” citing an undisclosed contract with a multi-national agreement currently established.  “Automakers, Tier 1 suppliers, fleets, and ridesharing companies are the new customer.”

Vugo previously raised a $200k seed round of capital  They count $660k committed, with $340k outstanding and intend to use the capital to increase bandwidth.

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