Mango boosts its model of innovation and invests in the shared mobility start-up, Hoop Carpool
Summary
The Hoop Carpool entrepreneurs will learn at first-hand how a major company works, and will be able to scale up their business model, and receive mentoring and advice from Mango experts, among other benefits. Mango will also carry out 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, offering them a sustainable mobility alternative. Specifically, Mango is investing in Hoop Carpool, a start-up that offers companies and universities a mobility alternative that allows employees and students to share short-distance journeys efficiently and sustainably.The investment represents the companys financial support to the start-up through a convertible equity loan and represents Hoop Carpools entry into an acceleration programme through which the entrepreneurs will learn at first-hand how Mango works and will be able to scale up their business model. 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.Hoop Carpool was founded in 2019 with the mission to transform the way people commute to work or university. To this end, Mango StartUp Studio is looking for companies and ideas at the development stage to make seed capital investments that bring innovation to the fashion industry value chain and improve the customer experience.