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Pure Electric has surpassed its crowdfunding target by more than 227%, as everyday investors back the company’s global green mobility ambitions.
The raise is part of a wider raise in which the company had previously secured more than £4 million from high-net worth individuals, adding to £70 million investment to date – £60 million of which came directly from founder Adam Norri.
The funding raise, which took place on Crowdcube, offered everyday investors the opportunity to become a Pure shareholder for as little as £30.40.
Investors benefit from a range of exclusive rewards as a long-term incentive for their investment, from a discount on purchases, to a free e-scooter and a Silverstone Formula 1 experience.
The raise has attracted 974 investors, with consumers taking the opportunity to own a piece of Pure’s future, joining the mission to supercharge the urban transport revolution.
In a relatively short space of time, Pure has established itself in the space of sustainable urban transportation, becoming one of the most sought-after e-mobility businesses.
Attracting the interest of global brand partners, Pure partnered with McLaren to launch five product collaborations, and appeared at Paris Fashion week in 2023 in collaboration with Stella McCartney.
In response to the crowdfunding result, Adam Norris, founder and CEO of Pure Electric, said: “I believe in Pure so much I have put a significant amount of my own money where my mouth is and it is heartening to see the public share my confidence in the potential of our technology and vision to transform the future of sustainable urban mobility.
“Half the world’s population live in cities, and yet transportation remains expensive, polluting and inconvenient.
The electric scooter market is therefore crucial to the broader e-mobility revolution, and this recent investment round will help boost our efforts to grow in a scalable manner, while still delivering market-leading products.”
The current investment round has received personal investment from the ex-CEO of Softbank International, CMO of Hilton Hotels, CEO of Bang and Olufsen (among others), and has sold nearly 300,000 units across the globe to date.
