Mango invests in shared mobility start-up Hoop Carpool
Mango is extending its innovation activities by investing in Hoop Carpool, a start-up that offers companies and universities a mobility alternative where employees and students can share short-distance journeys.
The investment is being made through the fashion retailer’s accelerator, Mango StartUp Studio, using a convertible equity loan. As part of the programme, Mango will be undertaking a six-month pilot trial with employees at its headquarters, who will be able to use Hoop Carpool to share a car on their commute to work.
Meanwhile, the Hoop Carpool team will learn how a major company works and scale up their business model while receiving mentoring and advice from Mango experts.
Hoop Carpool was founded in 2019 with the mission to transform the way people commute to work or university. It aims to optimise the average occupancy of each vehicle, improve the user experience, reduce transport emissions and relieve congestion on the roads.
With a team of more than 25 employees, it operates in Spain, Portugal, Colombia and Mexico.
The news marks the seventh investment that Mango StartUp Studio has made since its launch in 2022. To date, the accelerator has invested in companies such as Ziknes, a 3D printing start-up for architectural and design components using sustainable materials, and Flipflow, a market analytics and business data monitoring start-up.
