Stilride, a Stockholm, Sweden-based electromobility and industrial tech startup, raised €3.7M in funding.
Backers included Gustaf Hagman, Saeid Esmaeilizadeh and Tobias Emanuelsson. Stilride is also enabling individual enthusiasts to join the round with smaller investments, through a Crowdcube community fundraise which will end on 15th November.
The company intends to use the funds to accelerate growth, innovation, and develop the STILFOLD technology.
Founded by Jonas Nyvang (CEO) and Tue Beijer, Stilride introduced a sustainable production process which involves the use of robotic arms to fold steel over curves to form light, strong and durable new shapes. Their technology, called STILFOLD, makes use of resources and minimises waste, significantly reducing the climate impact of production compared to traditional manufacturing. The first product to be built using the technology is an e-motorcycle, the Sport Utility Scooter One (SUS1), which will go on sale to the mass market next year.
FinSMEs
03/11/2022