UK-based mobility startup Pure Electric has just smashed its crowdfunding campaign, rapidly raising over €1.5 million. The campaign has created the chance to build a community adoption of electric mobility options, fueling a new generation of city movement. We find out more.
As cities across Europe embark on different initiatives and ventures to become greener, one area that is continuing to soar with innovation is e-mobility. Referring to making movement around the city more eco-friendly and sustainable for generations to come, e-mobility innovation is bringing electric-powered bikes, scooters, cars and so forth to European city streets. In some cases, they are for individual possession, and other times, jumping into the sharing economy or e-commerce space. Regardless, e-mobility is undoubtedly the future of how our cities move.
We recently took a look at the different startups that are innovating in the e-mobility space, and now, a UK-based startup has additionally caught our attention as it launches a crowdfunding campaign to give people the chance to invest in the future of personal e-mobility.
Pure Electric, founded by Adam Norris in 2018 is a manufacturer of electric scooters that is aiming to combat the growing problem of congested cities and air-polluted urban environments. The company just launched a crowdfunding campaign, and we wanted to find out why this had unique benefits for the business’s future.
“We’ve always been driven by a fierce ambition to create a healthier environment and lifestyle for people living in major cities. Across Europe, the micromobility movement is thriving as people realize the benefits of swapping their cars for more sustainable and convenient modes of travel.”
The crowdfunding campaign
Pure Electric’s crowdfunding campaign launched on Crowdcube and gives eligible customers the chance to be part of Pure Electric’s mission for a cleaner future through personal electric transport. By investing as little as £12.17, investors will help drive the pan-European business forward and gain access to exclusive shareholder rewards.
“We want to challenge the traditional way people travel and to do that we need to inspire change on a mass scale. The crowdfunding approach enables us to open the opportunity to people who want to invest their money consciously into companies that can positively impact the environment.” Adam Norris.
The company will use the investment to capitalize on its growth in France, Belgium and Spain, and drive further expansion across Europe. The target of €1 million was smashed in short period of time, reflecting the popularity of the startup’s mission and a growing movement towards e-mobility.
To date, Pure Electric has sold more than 200,000 e-scooters across four markets.
So, what are the benefits of crowdfunding for Pure Electric?
We asked Adam Norris to share some more details with us. Here’s what he had to say:
“The traditional investment route does not always allow people with lower levels of capital to invest in early-stage companies. The benefit of crowdfunding is that we can give like-minded people, who share our vision for healthier cities, the opportunity to invest in our business.
“We are driven by a fierce ambition to dramatically lower air pollution, improve our health and transform city living. We chose to partner with Crowdcube to enable us to bring many other like-minded people on our journey.
“We hope to create an engaged community that truly believes in our mission of giving every person living in an urban environment a better form of personal transport.”
By going down this route, the company is able to build a community following, helping to empower a new generation of e-mobility enthusiasts – something that will be critical in making this the dominant and undisputed king of city mobility for years to come. And in turn, critical for making our cities more sustainable.
Matt Cooper, Chief Commercial Officer at Crowdcube: “We’re excited to welcome Pure Electric to Crowdcube. Investment into 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. 74% of Crowdcube investors want their investments to make a positive impact in the world, and we’re looking forward to giving our investors the chance to back Pure Electric as well”.
What’s next?
Pure Electric’s suite of second-generation e-scooters are available online at Pureelectric.com or at its flagship stores in London and Toulouse. The business also recently announced a partnership with Currys – which sees the UK’s biggest technology retailer market Pure Electric e-scooters through its website and 66 stores across UK and Ireland. Pure Electric also has a further 150 points of distribution across France and Spain through a partnership with FNAC Darty.
With this crowdfunding campaign, the goal will be to expand on a global scale, bringing e-mobility to the masses.
Adam said: “Our goal is to drive the ownership and adoption of e-scooters on a global scale. The investment we secure through Crowdcube will be used to develop more incredible products, continue to grow our brand awareness, and expand into new territories.”
“We want to take e-scooter adoption to the next level and our latest products raise category standards and deliver an even better rider experience. As we continue to revolutionize the transport sector, we are excited to invite people to be part of our mission through our first-ever crowdfunding campaign.”
