Vantaa-headquartered Skand, which has grown to become one of the leading brands of light electric vehicles in the Nordic region, has reached its minimum funding target to finance its expansion in Europe.
Skand has reached its minimum target of 300,000 euros at its crowdfunding round on Invesdor platform, with more than 3 weeks to go towards the maximum target of 1 million euros.
The company, which has so far sold more than 5,000 electric vehicles across Nordics, is valued at 5 million euros before the financing round.
“Our company, which began its journey in 2012 under the name Advantage Engineering Oy, initially focused on the electrical wiring design of paper machines. Our focus shifted in 2015 as the founders noticed there was a tremendous, unmet demand on the market for handy, stylish and lightweight electric vehicles. When we began selling consumer products, the company’s name was changed to Skand Oy,” the company describes its story.
“We began with three-wheel electric scooters and quickly added two and four-wheeled electric vehicles to our repertoire,” Skand said.
“We have also initiated a joint project together with Business Finland where we are developing an electric boat ready for the market. Despite our ever-expanding product line, we also wish to hold on to our original goals: style, high quality and reasonable pricing,” it said.