Moveco
A mobility ecosystem that aims to drive a safer, smarter, more efficient, and more affordable future for the mobility industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Moveco operates as a blockchain-powered mobility ecosystem that enables users to monetize their movement data. The company was co-founded by Lawrence Hui, XT Shaw, and Kirk Yip. Hui serves as the company's CTO, while Yip, with a background in finance and business development in the Asia Pacific region, acts as a business advisor. Before launching the blockchain platform, Moveco functioned as a telematics solutions provider, developing products like Drivebox and Drivebox Lite to read sensor data, track routes, and interpret driving behavior.
The business model centers on rewarding users for sharing their mobility data. This data can be generated from various activities, including driving, walking, or using other mobility services. In return for contributing anonymized data, users earn MOV utility tokens. This positions the company in the emerging market for vehicle-generated data, which is projected to be a multi-billion dollar industry by 2030. The collected data is intended to be used by stakeholders in the transportation industry, such as urban planners and developers of autonomous vehicles, to create safer and more efficient mobility services.
The core service is a platform that facilitates a value exchange between consumers and businesses. Users who share their data receive MOV tokens, which can be redeemed for goods and services, such as discounts on petrol and parking, through the Moveco Redemption Platform or with loyalty partners. The company utilizes blockchain technology to ensure the secure and anonymous sharing of this information. This move-to-earn model incentivizes participation in the ecosystem. Moveco is also a member of the Mobility Open Blockchain Initiative (MOBI), collaborating with major automotive manufacturers like BMW, Ford, and General Motors.
Keywords: mobility data, blockchain ecosystem, move-to-earn, MOV token, telematics, vehicle data monetization, urban planning data, autonomous vehicle data, loyalty rewards program, data marketplace, Lawrence Hui, Kirk Yip, Drivebox, Mobility Open Blockchain Initiative, smart mobility, data sharing, crypto rewards, transportation data, user data platform, future of mobility