Ecov -

company

About

Ecov accompanies local authorities and communities in achieving real time carpooling lines.

  • 51 - 100

Details

Last Funding Type
Grant
Last Funding Money Raised
€9.77M
Industries
Communities,Information Technology,Public Transportation,Ride Sharing,Software,Transportation
Founded date
Dec 1, 2014
Number Of Employee
51 - 100
Operating Status
Active

Ecov is a start-up expert real time carpooling lines. Ecov accompanies businesses and communities in achieving carpool solutions.

80% of trips in France are made by private car. This has huge environmental and economic consequences – in France private cars account for 16% of greenhouse gas emissions and eat up 14% of the average household budget. Reliance on cars is also a major social concern, with 54% of people living on a low income having to turn down work due to lack of transport. Moreover, on a day-to-day basis, the average car carries just 1.3 people, meaning that the road transport system (roads + vehicles + users + networks) is not being used efficiently.

Carpooling (sometimes also referred to as lift-sharing, car-sharing or ride-sharing) is one solution. However, although carpooling is now a popular choice for long journeys, only 3% of day-to-day trips are made using conventional, pre-booked carpooling services. We believe we can change this.

To change behaviours and reduce the number of solo drivers on the roads, we need to re-think how carpooling works. The constraints inherent in pre-booked carpooling are a barrier to uptake. That’s where our new concept – the carpooling line – comes in. Designed to operate like a typical bus line, with a designated route and stops, it allows people to carpool spontaneously, without booking. Drivers make their trip as usual, leaving whenever they want and picking up passengers along the way. At peak times on our busiest lines, passengers wait no longer than 5 minutes for a ride, just like on a high-frequency bus line.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
3
€12.07M
Ecov - has raised a total of €12.07M in funding over 2 rounds. Their latest funding was raised on Dec 16, 2020 from a Seed round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Dec 16, 2020 Seed €1.70M 1 Detail
May 1, 2019 Grant €9.77M 1 Detail
Jun 14, 2017 Seed €600K 2 Detail

Investors

Number of Lead Investors
Number of Investors
3
Ecov - is funded by 3 investors. France Active and Ministère de l'Économie et de l'Innovation are the most recent investors.
Investor Name Lead Investor Funding Round
France Active Seed
Ministère de l'Économie et de l'Innovation Grant
MOBILIZE VENTURE Seed