eFOLDi Set to Close Crowdcube Round With More Than 1.1 Million in Funding

eFOLDi, a UK-based scooter brand, is set to close its equity crowdfunding round on Crowdcube with more than £1.1 million in funding. The campaign was launched last month and secured its initial £350,000 funding target. It has also attracted more than 730 investors.

As previously reported, eFOLDi describes itself as an electric personal vehicle developed by SunTech UK Ltd, a research-driven UK business on a mission to bring true freedom to people with reduced mobility.

“Our award winning eFOLDi is an electric personal vehicle that can be neatly folded into a piece of luggage for easy transportation and storage, as well as being folded into a chair to rest on. At only 16kg with Li-ion battery and forged aluminium frame, the innovative design and patented invention enable this transformer- on-wheels to be extremely compact, lightweight and versatile.”

eFOLDi has also received various awards, including:

  • Winner of British Invention of the Year 2016
  • Virgin VOOM awarded by Sir Richard Branson
  • Winner of Scottish EDGE and Enterprise

Speaking about the Crowdcube success, the eFOLDi team stated:

“We are thrilled that so far 734 investors have seen fit to support us to the tune of £1.1 million. We owe you all a huge debt of thanks! It’s not how much you invested – it’s the trust you placed in us that we value most! We’ll make sure that every penny of your investment will be put back into the business we own together to help grow it for our shareholders.”

All funds from the Crowdcube round are going towards continuing the expansion and growth of eFOLDi.

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