Bzzt completed a $900k investment round

Bzzt, a Stockholm, Sweden-based taxi company, completed a SEK 8M ($900k) investment round.

The funding was made as an addition to the $1.3M capital raise made in October 2018 and will be used to balance the company's cash flow as it is looking to expand its business.

Bzzt was founded in 2014 and by CEO Sven Wolf and Örjan Jansson. The company operates a fleet of small, electric taxi pods, available on demand basis in Stockholm. The pods are small, electric powered tricycle, which can carry a maximum 2 passengers and which are manufactured and supplied by a Swedish producer, Clean Motion. In addition to the money from the rides, the company also makes money from selling advertising on its vehicles.