The direct to consumer brand for elegant, practical and high end electric vehicles
FuroSystems is the direct to consumer digital brand for elegant, practical and highly performant electric vehicles. Based in London, it has seen 300% yearly growth with revenues of £748,000 in 2019 and projected 2020 revenues of £1,580,000. We delivered over 850 e-Bikes and e-Scooters since inception. E-bikes and e-Scooters are faster, cheaper and cleaner with a carbon footprint of 18g vs 292g per mile for a car.
Today, we market 4 products (with 2 more in the pipeline), are entirely self-funded and profitable. We are also particularly well positioned as an ecommerce business during the covid-19 crisis. We have seen explosive demand for our products as they enable social distancing and help avoid contact while commuting. Over the last 30 days (as of 31/05/2020) we have achieved £282,646 in sales.
To meet the rapidly growing demand for our products, we are looking to raise a seed round of £500,000 to expand our team, develop and improve our product line, finance stock and marketing reach.
CEO: MEng Aerospace Engineering @ University of Bristol & University of Sydney, MSc Innovation, Entrepreneurship and Management @ Imperial College London
CTO: MEng Mechanical Engineering @ University of Bristol, MSc Innovation, Entrepreneurship and Management @ Imperial College London
CMO: SEA Account Director @ Publicis Media, MSc Communication and Media studies @ City University London
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|Impact Sector||Responsible consumption & materials|
|Investment Sought||£500,000 *round ext. to £800,000*|
|Indicated Pre-Money Valuation||£3,500,000|
|Target Close Date||31/08/2020|
|Form of Investment||Equity|
|Potential EIS/SEIS Eligibility||EIS Eligible|