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268%
Raised
£939,650
Investors
746
Target
£500,000
Equity
12.38%
Pre-money valuation
£6,650,000

eFOLDi is transforming the mobility market with a patented, lightweight, foldable and roadworthy scooter. eFOLDi is about freedom, friendship and fun ! With first sales exceeding £700k per month. eFOLDi are returning to Crowdcube to raise £3.5M to enable expansion into the US market.

  • Life changing assistive technology
  • Winner of British Invention of the Year 2016
  • First year sales in excess of £3M - £19M company valuation
  • UK mobility market estimated at £1B by 2021

Idea

eFOLDi is an electric personal vehicle developed by SunTech UK Ltd, a research-driven UK business on a mission to bring true freedom to people with reduced mobility.

Personal mobility is a huge market projected at US$ 9 Bn this year. In the UK alone, we have around 350k mobility scooter users with 80k units sold each year. However, with 1 in 5 users having experienced tipping over and 53% of the users under 65 years old, we believe that the current mobility products are too dangerous and old fashioned to serve the generations who have grown up with smart technologies.

eFOLDi can be neatly folded into a piece of luggage or a chair. It is designed to be extremely stable, lightweight and versatile, for easy transportation and storage. We will continue to develop products to improve convenience, enjoyment and quality of life by enabling easy mobility.

Milestones achieved:

- £104k raised from crowdfunding pre-sales in 18 days from over 11 countries;

- Exclusive distributor agreements signed for US and China. First-year order totalled 4,900 units;

- £120k business service and prize awarded by Virgin VOOM;

- £115k funding from Scottish EDGE and Enterprise for product R&D;

- eFOLDi MK1.5 achieved 20% reduction in weight and 30% increase in range;

- Patent and trademark protections in Europe, China, India and USA;

- Winner of British Invention of the Year 2016.

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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.