Electric black cab firm CaoCao Mobility raises €3million to expand in France and Europe

CaoCao Mobility, a privately operated mobility company in Paris has announced the completion of its first round of funding to help fund future development of the ride hailing company in the French market.

This year has already seen new investment by Geely New Energy Commercial Vehicles Group (GCV) into parent company of CaoCao Mobility Europe, Ltd. demonstrating the renewed confidence of the Geely Group in CaoCao Mobility in Europe.

CaoCao Mobility Paris first launched in Paris in January 2020, arguably not the best time for a mobility company to launch given the months of restrictions that followed caused by the coronavirus pandemic. However, CaoCao rallied by utilising the British made LEVC TX taxi cab as its core vehicle that separates passenger from driver in an isolated environment allowing CaoCao to go from ‘Zero to Hero’ in Paris during a tense Covid era.

The three companies behind CaoCao Mobility’s French operation; ESQ, CaoCao Mobility Paris and ANGEELY INTERNATIONAL, are currently operating 180 TX vehicles in Paris and has acquired over 120,000 active users on the CaoCao ride hailing app over the past 24 months of operation.

CaoCao Mobility launched the Atmosphere service to connect independent electric or hybrid vehicle drivers with customers in the Paris region, facilitating more convenient ride hailing in the region. Caocao also launched its B2B offer to facilitate transportation of businesspersons and during private events while respecting ESG requirements for carbon free travel.

Through its subsidiary ESQ, have also launched an important recruitment campaign for 100 full time permanent drivers who will be trained in the latest standards for customers. The total number of full time permanent drivers will reach 150 by the end of the year.