ELOOP receives million-dollar investment
An investment vehicle of Graz-based C&P Immobilien AG founders and friends and the Luxembourg-based fund of the European Super Angels Club “EXF Alpha” are investing in the Vienna-based car-sharing startup ELOOP. The seven-figure investment is intended to foster the expansion of the e-mobility fleet and bring it to more than 200 Tesla Model 3 in Vienna by summer 2021. In addition to expanding the Vienna Home Zone for users, expansion to major cities in Germany is on the roadmap.
Seven-figure investment for ELOOP
Electric car-sharing provider ELOOP, which launched in Vienna in August 2019, closed a million-dollar investment for further expansion of its fleet. A vehicle of Graz-based C&P Immobilien AG – Austrian market leader in investor housing in the retail segment – founders and friends, and the fund of the pan-European investor network European Super Angels Club, managed by Venionaire Ventures Sárl, are supporting ELOOP with a million-digit investment.
“The investment enables us to further expand the existing e-fleet in Vienna as well as to complete our expansion into the DACH region more quickly,” says Leroy Hofer, CEO and co-founder of ELOOP
According to ELOOP’s management, the investment also brings a lot of know-how to the company, as C&P AG recently expanded to Germany itself, while Venionaire brings in a strong network in the crypto, tech, and startup ecosystem to foster growth. Thus, not only further technical development of the existing products will be pushed, but also the own crypto token, which enables a revenue share in the car-sharing income, will be distributed more strongly.
Vast Expertise in Smart Mobility
Prior to the investment, European Super Angels Club looked deep into the European smart mobility sector and discovered high growth potential already at the beginning of 2020.
With the Invest and Connect Smart Mobility Awards – together with strong industry partners like motec ventures and European Startup Prize for mobility – it has made its own selection of the top European startups last year. Eloop was not part of this challenge, yet KPIs and market adoption impressed the club.
Some of the most outstanding startups like Unmanned Life (UK), Ubiq (AT) and Carfellows (DE), were chosen and awarded as winners of the series and are under review for an investment themselves.
“The Smart Mobility sector itself is extremely interesting for investors. Sustainability and change of habits – such as a lower interest for car ownership or the will to buy cars fully online, are just a few trends we have seen.” – said Berthold Baurek-Karlic, CEO and Founder of Venionaire Capital and President of the European Super Angels Club, back in 2020
With the latest investment, the first club deal in smart mobility, the club sets the first step to build a portfolio of innovative and sustainable solutions which will change mobility. ELOOP has the potential to grow faster than its sector peers and will be a driver for this sector in the club’s portfolio.
“ELOOP has the potential to give the carsharing world more than a sensitive electric shock. With its innovative and sustainable concepts, ELOOP will turn the entire e-mobility industry on its head and grow faster than its competitors” confirmed Berthold Baurek-Karlic, in the investment news announcement.
ELOOP Achievements and Future Expansion Plans
Expansion by 200 Tesla by summer. ELOOP is leaving no stone unturned and plans to expand its vehicle fleet by 200 new Tesla Model 3s by summer 2021. Since the beginning of April, the first 70 of the fully electric and completely emission-free e-vehicles from the U.S. manufacturer have been rolling on Vienna’s streets. But ELOOP doesn’t just want to score points with users with environmentally friendly e-cars.
“With our Best Price Guarantee, the tariff changes automatically and transparently for the user depending on his usage. This means you always drive at the best price and can concentrate fully on transport,” says Hofer
Already 254 tons of CO2 saved. ELOOP has been driving in Vienna since 2019 as the only car-sharing provider completely emission-free with green electricity. The e-vehicle fleet, consisting of Tesla Model 3, BMW i3, Renault Zoe and Smart EQ, has already been able to save 254 tons of CO2 and contribute to the reduction of particulate matter pollution since its launch.
“Vienna has been voted the most livable city in the world for years. Our goal is to help keep it that way and to offer an environmentally friendly and holistic urban mobility concept by combining different concepts and technologies,” Hofer concluded
According to its own statements, the e-car sharing concept of the Viennese startup aims to counteract expensive acquisition costs, harmful exhaust fumes, parking space congestion and rising CO2 emissions, and to promote sustainable individual mobility in major cities. ELOOP is planning to expand to Germany at the end of the year and then wants to be represented in another major city.