Smart Scooter Startup Scooterson is Closing $1.75M Seed Round Lead by Arsat Industry
The partnership with Arsat Industry is a strategic move for Scooterson to launch the most technologically advanced electric scooter of 2018, by leveraging Arsat’s expertise in manufacturing precision metal parts for aerospace applications.
Scooterson, the California based personal-mobility startup, has received new funding from Arsat Industry, a global manufacturer of precision metal parts from Eastern Europe.
The startup plans to use the funding to set up manufacturing of its first product, an intelligent and connected electric scooter and to expand their team.
The high-end two-wheeler, has no acceleration lever and no gear shifter – it knows how fast to go by analyzing the rider’s riding patterns and uses machine learning to enhance rider’s experience, maximize energy efficiency and increase safety. The intelligent scooter can also be shared with friend and family, using a mobile app.
Arsat Industry, with facilities near Arad, in Romania, has many aerospace industry clients like Airbus, GE and Rolls Royce but also serving huge names from other industries like Apple, Flextronics and ABB. For geeks talk technicalities, Arsat can achieve accuracy up to 5 microns to 4 meter large parts.
“We were at Arsat offices, talking about Scooterson features and manufacturing details and out of the blue, ARSAT owner Andrei Ghinea said: “I really like this product and I want to help you more, I want to invest.” It was an unexpected and pleasant surprise and this is how Arsat became our largest investor so far, besides other investors from Singapore and India,” said Mihnea de Vries, Scooterson’s CEO.
The partnership with Arsat Industry is a strategic move for Scooterson, in their plan to launch the most technologically advanced electric scooter of 2018, by leveraging Arsat’s expertise in manufacturing precision metal parts for aerospace applications.
“2017 has been a great year for us at Scooterson. With a product validation of more than $2 million worth of pre-sales, we raised $1.75 million in our seed-round. 2018 will be even greater with the launch of our first product in the first semester and the launch of our scooter-sharing operations in Singapore, by the end of year. Also we plan to launch a product version for emerging markets, especially in India, where our Indian investors are helping us get started,” said the founders.
Besides setup manufacturing and launching their first product, Scooterson will use the funding to attract more talent, particularly engineers for the R&D team in the Singapore office. Scooterson grew its diverse team with several amazing people across the globe, with remarkable skill sets, like their Chief Industrial Designer, Ionut Predescu, who is one of those with superhuman hand-eye coordination and can sketch with both of his hands simultaneously.