Romanian electric ridesharing platform ELEC secures over EUR 1 mln to become an electromobility ecosystem

Romanian electric ridesharing platform ELEC attracted over EUR 1 million in investment funds to become an electromobility ecosystem. The startup will use the funds to develop its own software and integrate ridesharing, rent-a-car, and electric charging services into the same platform.

ELEC carried out a fundraising campaign on the crowdfunding platform Ronin last year, raising EUR 200,000 from private investors. Additionally, it secured a EUR 500,000 investment from an individual investor and forged a strategic partnership worth EUR 500,000 with Ecomotive.

Alex Manea, the founder of ELEC, stated: “We aim to transform traditional transportation and ensure that electric mobility is not just an alternative but becomes the preferred choice for the majority. For this to happen, electric mobility options need to become more accessible and attractive to the general public.”

The company currently offers ridesharing services with a fleet of over 200 exclusively electric cars, most less than four years old, and a network of 5 charging stations, including 3 high-power ones, accessible through the Renovatio platform.

By the end of 2024, the ELEC app will encompass three lines of business, Ride, Rent, and Charge, with multiple integrations: Cross Promo, Smart car virtual garage, and web3.

ELEC has managed approximately 80,000 rides so far, covering 320,000 kilometers.

(Photo source: the company)