STILRIDE raises €3.7m to fuel innovation

According to STILRIDE, the funding announcement follows unprecedented demand for its inaugural electric motorcycle – the Sport Utility Scooter One (SUS1) – and sustainable manufacturing technology, dubbed ‘industrial origami’.

The round was joined by new and existing investors including LeoVegas CEO and founder Gustaf Hagman, and Polar Structure founder and CEO Tobias Emanuelsson. Individual enthusiasts can also join the round with smaller investments, through a Crowdcube community fundraise which will end on 15th November.

STILRIDE described its sustainable manufacturing production process as ‘cutting-edge’, involving the use of robotic arms to fold steel over curves to form light, strong and durable new shapes. Its technology, called STILFOLD, aims to make smarter use of resources and minimise waste to significantly reduce the climate impact of production.

The first product to be built using the technology is the SUS1, which will go on sale to the mass market next year. STILRIDE has also recently announced landmark partnerships with Swedish space innovation startup I.S.A.A.C, exploring the technology’s potential applications in outer space, and electric car company POLESTAR with whom the team is collaborating to build the world’s first climate neutral car.