Scutum Raises €2M

Scutum, an Esplugues de Llobregat (Barcelona), Spain-based developer of a new concept of electric scooters with removable batteries, raised €2m in funding.

Backers included Caixa Capital Risc (Caixa Innvierte Industria), Repsol, and the Centre for Technological and Industrial Development (CDTI).

Founded in 2011 and led by Carlos Sotelo, Scutum has developed its first model of motorbikes with patented, proprietary technology that has a removable battery system. The vehicles have 2 types of batteries: one is 16 kilograms and charges in 1.5 hours; the other is higher capacity, 25 kilograms, needs 3 hours to charge, and has a range of 80 kilometres.
The company is non marketing the S02 model, adaptable to professional solutions and targeted towards companies that have large scooter fleets (messaging, couriers, distribution, etc.) and also has a prototype, the S01, which is targeted towards the general public.

Scutum intends to use the funds to industrialize production and expand marketing efforts for its new S01 model.



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