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Etergo Locks €10 Million To Make Modular Battery Swapping Electric Scooter

Etergo Locks €10 Million To Make Modular Battery Swapping Electric ScooterEtergo (earlier known as Bolt Mobility), the Dutch electric scooter firm, just announced a €10M investment. The firm is in the final phases of production groundwork and will employ the money for making of their innovative, high tech, and long range electric bikes.

Etergo declared that the €10M investment arrived from a German automotive firm. It claimed, “We just inked and secured the deal for a pump in of €10 Million in Etergo. The sponsors (who prefer not to be named) are the shareholders in an automotive company in Germany that has huge experience in Distribution and After-Sales.”

Etergo has been on a strong streak for fund raising quite some time now. This round is the firm’s 4th multi-million Euro investment and follows only a year after Etergo raised €5M to design the AppScooter. The firm aims to start deliveries in the H2 of next year. Specialized cars will be employed to offer mobile service options and deliver vehicles for riders.

On a related note, earlier Lime began its processes in the U.K. with a bunch of dockless electric-supported bikes in Milton Keynes in a shopping center. The San Francisco-located company claims that it aims to extend into more cities in the nation over the upcoming period.

As compared to other markets, consumers in Milton Keynes unlock and find Lime’s bikes, which employ battery-fueled motors to travel further distances by lowering the pedaling. This is done via a mobile app. Bike rides has a price tag of £1 (almost $1.28) to unlock and an extra 15 Pence each minute of riding time and will be obtainable at shopping centre in Milton Keynes. Supported by sponsors such as GV, Uber, and Andreessen Horowitz with a funding of $467 Million so far, Lime lately claimed that it had hit a milestone of 11.5 Million rides.

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