ELOOP, a Vienna-based e-carsharing startup, has extended its seed financing round by securing an additional one million euros with the support of significant investors, including Bitpanda's CTO, to facilitate its expansion into Germany and enhance its electric vehicle fleet.

Information on the Target

ELOOP is an innovative e-carsharing startup based in Vienna, launched in August 2019. The company focuses on providing a sustainable mobility solution through a fleet of electric vehicles, aiming to enhance the quality of urban life by promoting environmentally friendly transportation options. Recently, ELOOP has achieved remarkable growth, reporting approximately 3 million euros in revenue for 2021, a 1500% increase from the previous year. The startup has also developed its proprietary cryptocurrency, ELOOP ONE, which allows users to share in the revenue generated by the fleet.

Industry Overview in Austria

The e-carsharing industry in Austria has witnessed significant advancements in recent years, largely driven by a growing awareness of environmental issues and urban congestion. As cities strive to reduce emissions and enhance public transport alternatives, e-carsharing presents a compelling solution. Additionally, government incentives for electric vehicle use and the increasing availability of charging infrastructure further support the growth of this sector.

With the rise of smart city initiatives in Austria, the demand for sustainable mobility solutions is expected to increase substantially. Many urban areas are prioritizing not only the