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93%
Raised
£749,660
Investors
566
Target
£800,000
Equity
14.00%
Pre-money valuation
£4,914,286

With operations already running in China, Indonesia, and Australia, Mute wants to make electric scooters and bicycles immediately available through their technology driven usership programmes. Trials are underway with DHL and letters of intent have been signed totalling 500 units in the UK alone.

  • Expect to deploy 2,900 units in the next 12 months.
  • The founder has already built a company which went on to IPO
  • Founded by veterans of the motorcycle, finance, & technology industry
  • Average gross margin of 82%

Idea

MUTE Multiple Urban Transport Evolution

We want to make electric scooters & bicycles immediately accessible for individual/commercial use without the constraints and costs of ownership at the tap of a button. Our bike supply programs are tailored to an individual’s or business’s needs.

Both businesses and individuals want to make a difference to the environment, reduce costs and have easy access to innovative electric transport.

Buying an electric vehicle for commercial or private use can be price prohibitive as electric vehicles are more expensive than petrol/diesel. There is also uncertainty with regards to maintenance, cost of replacement battery and obsolescence.

Where we are:

Fully operational and with scooters on the road in Shanghai (China), Bali (Indonesia) and Perth (Australia)

Commercial contracts include working with Sherpa's (Shanghai’s answer to Deliveroo), and with DrinKuaidi (on demand delivery in Shanghai).

Our App and website are under development. (Launch in August)

Early stage trial with DHL in the UK

Expressions of interest for over 50,000 units

Contract for 100 delivery scooters for a London delivery company under negotiation

Our plans

Finalise development of our mobile application

Commence domestic and international marketing campaigns

Provide bikes to clients under letters of intent

Franchise the concept to experienced operators in other European countries

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.