The Scooterson factory in Singapore
US-based electric scooter startup Scooterson, which has its manufacturing plant in Singapore, is set to kick off its new US$10 million fundraising process next month.
The new capital raise will fuel Scooterson’s multifaceted expansion strategy, encompassing product development, geographical reach, and operational enhancements, its Co-Founder and CTO Deepansh Jain told e27.
“We are looking to raise capital from a group of investors in the US, our primary market. We also anticipate participation from existing investors,” he said.
Established in 2016, Scooterson offers a semi-autonomous e-scooter model, Rolley, which requires zero learning curve and can accelerate. Its Smart Mode Acceleration feature works in tandem with the scooter’s sensors, phone sensors, and prior ride data to optimise speed.
Also Read: Scooterson’s smart electric scooter Rolley to kickstart in Singapore with a US$1.75M funding
Rolley doesn’t have a gear shifter or acceleration lever, unlike conventional scooters. It adjusts the speed and performance according to the rider’s body movements.
The Scooterson mobile app allows users to lock/unlock their scooters remotely, share their travel information and the scooters with family and friends, and send charging notifications when the battery is running low. Moreover, its anti-tapering alarm system and Find My Scooter function allow users to locate their scooters if they are stolen or lost.
While Rolley’s base model is priced at US$3,200, the higher version Rolley+ costs US$4,000.
According to Jain, Scooterson has so far shipped about 300 units, primarily to the US market. It now plans to sell 1,000 units — 80 per cent of which will go to the US market and 20 per cent to the rest of the world — which are pre-sold on its Indiegogo campaign.
The mobility startup has an ambitious plan to ramp up production capacity to 1,000 vehicles per month due to an ‘increasing demand’.
“Over the next six months, Scooterson will undergo a phased transition that will pave the way for this capacity increase. As part of this transition, the current phase-out period will be crucial in preparing our facilities, supply chain, and workforce for the impending surge in production,” Jain revealed.
To date, the startup has raised US$6.5 million from angels and corporates, including Singapore-based Arsat Group, SOSV, and ElevateVC.
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Image Credit: Scooterson
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