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eco-service.ca

Stage

Seed | Alive

Total Raised

$500K

Last Raised

$500K | 5 yrs ago

About EcoService

EcoService is a shared and autonomous fleet technology and services company.

EcoService Headquarter Location

192 W 3rd Ave.

Vancouver, British Columbia, V5Y 1E9,

Canada

844-78-46326

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Expert Collections containing EcoService

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

EcoService is included in 1 Expert Collection, including Auto & Mobility Tech.

A

Auto & Mobility Tech

1,344 items

Startups building a next-generation mobility ecosystem, using technology to improve connectivity, safety, convenience, and efficiency in vehicles.Includes technologies such as ADAS and autonomous driving, connected vehicles, fleet telematics, V2V/V2X, and vehicle cybersecurity.

Latest EcoService News

INVL Baltic Sea Growth Fund’s Eco Baltia to acquire majority stake in Ecoservice

May 18, 2021

Vilnius, LITHUANIA Eco Baltia , the largest environmental and waste management group in the Baltics, backed by private equity fund INVL Baltic Sea Growth Fund and European Bank for the Reconstruction and Development, has agreed a deal to acquire at least an 85% stake in the leading Lithuanian environmental solutions company, Ecoservice . Acquisition of Ecoservice shares from BaltCap Private Equity Fund II will formally close subject to securing the necessary approvals from the Lithuanian Competition Council. The Ecoservice Group consists of several companies operating in sectors including household waste management, recycling and construction waste collecting as well as other environmental based services. The company employs in the region of 900 employees in Lithuania and last year had revenues of €35mn. Maris Simanovičs, Chairman of the Board at Eco Baltia, commented: “This deal strengthens Eco Baltia’s market position as the largest, environmental management group in the Baltics while also entering a new geography in the form of the Lithuanian market. With this acquisition our combined revenues will grow by over 50% to more than €100mn. Combining with Ecoservice will enable us to offer new product lines and services for clients both in Latvia and Lithuania. As the circular economy continues to grow in the Baltics Eco Baltia is well positioned for the next chapter of growth for the Group.” Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory board at Eco Baltia, commented: “INVL Baltic Sea Growth Fund invested in Eco Baltia in 2020 and we are aiming to significantly grow the company both organically and through acquisitions, focusing on two segments specifically - PET recycling and waste management. This is a significant development for the Company in terms of capability and will be instrumental in achieving these goals.” Saulius Budrevičius, the CEO and co-owner of Ecoservice commented: “The strategic backing of BaltCap enabled us to expand activities of Ecoservice from 14 to 25 municipalities and almost double the scope of environmental services volume wise. We also grew the family of Ecoservice employees almost 2-fold during last 7 years. We look forward to further expanding the range of our services and contributing to creation of circular economy in Lithuania in partnership with Eco Baltia.” Šarunas Alekna, Partner at BPEF II says he is content that during BaltCap’s ownership Ecoservice solidified its position as the leading and most modern provider of environmental services in Lithuania: “It has been a privilege to partner with Ecoservice´s management team and contribute to its growth journey. It is important for us that the new owner has a vast experience in the sector -we are excited to witness the further growth of the Company,” Alekna comments. In 2020, the Eco Baltia Group revenues grew ~6.1% to €75mn. Eco Baltia is offering a full range of waste management services from collection and sorting to logistics, wholesale, and recycling of secondary raw materials. The Group employs around 900 people in Latvia with leading companies in the existing portfolio including PET Baltija, Eco Baltia Vide, Latvijas Zalais punkts and Nordic plast. Shareholders of Eco Baltia are INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and management of the company (16.68%). INVL Baltic Sea Growth Fund

  • Where is EcoService's headquarters?

    EcoService's headquarters is located at 192 W 3rd Ave., Vancouver.

  • What is EcoService's latest funding round?

    EcoService's latest funding round is Seed.

  • How much did EcoService raise?

    EcoService raised a total of $500K.

  • Who are the investors of EcoService?

    Investors of EcoService include GreenSky Capital.

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