Finnish light electric vehicle designer Skand has raised €845,000 in an equity round using crowdfunding platform Invesdor after it raised its maximum funding target from 300,000 euros.
In addition to equity funding, Skand received a bank loan worth €1M to accelerate its expansion goals in Norway, Denmark and Germany.
“We are thrilled that so many private investors saw Skand’s products as part of the future of sustainable private transportation.”Miika Utoslahti, CEO and founder of Skand
“The pandemic has caused people to be wary of crowded public transportation. With Skand’s products, you can move around in big cities and the countryside silently and in an eco-friendly way. We strongly believe that electric vehicles capable of being driven year-round are a key solution for big cities with traffic and congestion issues. For more sparsely inhabited areas having means of moving freely when you want is also vital,” Utoslahti said in a statement.
The development of more durable and powerful batteries to suit the hard winters of the Northern hemisphere has increased Nordic EV performance. Skand offers its customers full customer support, and spare parts are always available through trusted collaborators in different countries. Almost every Skand vehicle sold to date is still on the road, making the carbon footprint comparatively small per vehicle.
Skand has been growing at a record speed in 2021, with 175% growth compared to last year’s figures. Skand was also listed as one of the fastest growing tech companies in Europe by Deloitte in 2019.