Rome-based Scuter drives off with €3 million to develop new sustainable urban mobility vehicle
Summary
The co-founders wanted to create a transport option that would be easy to ride and long-lasting like a bike, agile and fast like a scooter, and safe like a city car. They also received a grant in the INCENSE contest run by the European Commission with ENEL, as recognition of being one of Europe’s most promising cleantech startups. Scuter’s system is composed of a cloud platform that is driven by machine learning and AI, a smartphone app, a battery charging cabinet, and, a patented single-seat electric 3-wheeled vehicle. The vehicle, described by Scuter as ‘a smartphone with wheels and a chair’ is homologated for a helmetless drive and it runs on environmentally friendly green electricity. The €3 million funding has come from a mixture of sources, including a convertible investment led by LVenture Group and other Business Angels in co-matching with CDP Venture Capital, medium-term debt financing bounded to the production of the first fleet of vehicles from Intesa Sanpaolo Bank, plus a grant by the government’s agency INVITALIA.