Stilride, a London, UK- and Stockholm, Sweden-based electromobility startup, raised £2.5M in funding.
The round was led by Gustaf Hagman, Saeid Esmaeilizadeh, Sam Bonnier and Andreas Adler.
The company intends to use the funds to create the chassis and body for a fleet of next-generation e-motorcycles which will be made available to consumers in Europe later this year.
Co-founded by Tue Beijer and Jonas Nyvang, Stilride produces sustainable electric motorcycles and scooters using a groundbreaking process dubbed ‘industrial origami’, called STILFOLD. The company has developed technology and manufacturing technique which involves robots able to fold single sheets of recyclable steel into intricate, lightweight and durable new structures – reducing the environmental impact of production.
The funding will be used to bring the startup’s first product to the mass market: the Sport Utility Scooter One (SUS1).
There are already 90,000 people on the waiting list for the STILRIDE SUS1 e-scooter, with the first pre-series set to be released to customers in the autumn of 2022.
FinSMEs
25/01/2022