I wonder if you could work the name into a bike symbol. Say the "O" in Cov as the rear wheel of the bike. The "v" as the frame and a stylized "B" as the front wheel and handlebar. Maybe put a rider on top, literally riding CovBikes, suggesting speed and utility.

You know; ride CovBikes.

It's fine as it is, but when I saw the font you used, that's what came to mind.