Pure Electric secures £1.5m through Crowdcube to fund product development and expansion.
The e-scooter maker surpassed its initial £1m target on Crowdcube to support new product creation and market growth.
Pure Electric designs and manufactures personal electric scooters, operating across the UK and continental Europe.
Pure Electric has secured £1.5m through its first crowdfunding campaign on Crowdcube, surpassing its initial target of £1m. The Bristol-based e-scooter manufacturer intends to allocate the capital towards developing new products and expanding its international footprint beyond its established markets in the UK, France, Spain, and Belgium.
The raise follows the recent launch of the company's Pure Advance and Pure Advance Flex e-scooter models in Paris. Founded in 2018, the business has previously sold over 200,000 vehicles and recently established retail partnerships with Currys and FNAC Darty.
From the founder
"I started Pure Electric to provide a solution to the escalating environmental issues caused by traditional transport systems. Our ground-breaking technology, designed by our world-class team, is now providing greener, safer, and more affordable transport"
Adam Norris
CEO and Founder at Pure Electric
Investor perspective
"We’re excited to welcome Pure Electric to Crowdcube. Investment in green companies via Crowdcube has risen considerably over the past few years, and we’ve seen more and more of these companies taking on the challenge of urban mobility. In addition, 74% of Crowdcube investors want their investments to positively impact the world, and we’re looking forward to giving our investors a chance to back Pure Electric as well"
Matt Cooper
Chief Commercial Officer, Crowdcube
Use of funds
- 01Continue product development
- 02Expand into international markets
Categories
About the company
Pure Electric
Pure Electric designs and retails personal electric scooters.