British e-scooter startup Pure Electric raised over £2.3M, more than double of their initial funding goal

Pure Electric, the award-winning e-scooter brand, has successfully completed its first equity crowdfunding campaign, raising over £2,390,000 - more than double its £1,000,000 investment target. Over 1200 investors have backed Pure Electric on Crowdcube, in support of the company's mission to build a cleaner future by transforming urban transportation with environmentally friendly, emission-free e-scooters.

This Crowdcube raise forms part of a wider investment round that has been opened to high-net-worth investors. One of the company’s key goals is to further grow this category leading brand, whilst continuing the innovations that set Pure Electric’s e-scooters apart. Furthermore, Pure Electric will use revenues raised to, in time, expand its presence into new markets such as Scandinavia, the Americas, and more European nations.

The company’s ultimate goal is to increase the availability of its latest e-scooters, offering a sustainable solution to consumers struggling with broken, polluting urban transport systems, and who are looking for a form of transportation independent of fossil fuels.

“I founded Pure Electric because I wanted to invest the majority of the capital I had made through the IPO of my previous business into a business which offered both high financial returns, and a massive positive impact on the planet. We now have support from over 1200 investors, sharing this view and joining us on our mission to fix a truly global problem. Their support will enable us to be the disruptor in the category, not the disrupted, all while expanding into new markets and ultimately helping reduce the effects of global warming from broken transport systems.”, said Adam Norris, Founder and CEO of Pure Electric.

Pure Electric was created in 2018 by Adam Norris, former Founding Director of Hargreaves Lansdown’s Pensions business and manager of Formula One driver, Lando Norris. Norris leads an experienced leadership team derived from successful mass premium brands including Dyson, Dr. Martens, Vivo Barefoot, Weber and Nisbets.
Pure Electric’s award-winning e-scooters can be purchased directly through the company’s website or experienced first-hand in its flagship stores in Spitalfields, London, and Toulouse, France. Customers can also make purchases through Currys stores (and online), as the UK’s biggest technology retailer, via 66 of their stores across the UK/IRE. Further expansion into Ireland occurred during the raise, with Pure Electric securing a partnership to stock products with Dominic Smith Electrical, in Ireland. Across France and Spain, Pure Electric also has a further 150 points of distribution through a partnership with the well-known retailer FNAC Darty.