Swedish electro-mobility startup STILRIDE has raised more than €3.7m to fuel the launch of its first steel e-motorcycle – the Sport Utility Scooter One (SUS1) – next year.
Individual enthusiasts are also being invited to join the round with smaller investments through a Crowdcube community fundraise that ends on 15th November.
STILRIDE is rewriting the design rules for electro-mobility with a new manufacturing technique dubbed ‘industrial origami’ to build e-mobility products that are lighter, greener and more sustainable.
The technique involves the use of robotic arms to fold steel over curves using minimal materials and components to reduce waste.
Jonas Nyvang, CEO and Co-Founder at STILRIDE, told Zag Daily: “We’re gearing up to launch our first steel e-motorcycle next year so this injection of funding will help us bring this product to market and will enable us to grow the team so that we can start work on the next electromobility products we want to add to our fleet.”
The funds will also be used to explore new applications for the technology.
“We recently announced a collaboration with I.S.A.A.C – a space innovation agency here in Sweden – so some of the new investment will go towards testing the technology with them to understand how STILFOLD can be used to help astronauts build things in space,” said Nyvang.
“We’re also particularly keen to explore how we might use our technology to build wind turbines, semi-trailers for trucks and the foundations of buildings.”
Most recently STILRIDE teamed up with luxury electric car company Polestar to look at using its micromobility manufacturing technology to build the world’s first climate-neutral car.
The funding round was joined by new and existing angels that includes Gustaf Hagman, Saeid Esmaeilizadeh and Tobias Emanuelsson (Founder and CEO at Polar Structure).