Member Article

Electric scooter manufacturer raises €10m to fund UK launch

Etergo, formerly known as Bolt Mobility, has secured €10m (£9m) investment from a German automotive specialist to fund the large-scale production – and the UK rollout – of its first electric scooter model.

The AppScooter, a ‘Tesla on two wheels’, features 4G internet and smartphone connectivity. The first production series is due to be delivered in the Netherlands and Germany in the second half of 2019, followed by the UK and other markets.

The latest investment is Amsterdam-based Etergo’s fourth successful round of multimillion-euro funding and follows a €5m (£4.5m) crowdfunding investment to develop the AppScooter in 2017.

The vehicle has a range of up to 240 kilometers (149 miles) and can accelerate from 0 – 45 km/h (28 mph) in 3.9 seconds.

The AppScooter boasts a 7-inch touchscreen and 4G internet connection. Drivers can use its innovative handlebar controls to access features on their phone through Bluetooth, answer calls, stream music and navigate.

CEO and co-founder Bart Jacobsz Rosier: “*With this investment we bring in more than just capital. The knowledge and experience of our investor in the field of automotive and service will help us to roll out the best service network in Europe.

“We will use this investment and knowledge to produce a safe, environmentally-friendly alternative to air-polluting petrol scooters on a large scale. Firstly, in the Netherlands and Germany, and soon after in the UK and other countries.”*

Hundreds of AppScooters have already been sold.

This was posted in Bdaily's Members' News section by Etergo .