Bzzt secured $1.7M from Indian strategic investor SAR.

Bzzt, a Stockholm, Sweden-based company providing taxi services, completed a SEK 16M ($1.7M) capital investment round.

The money was provided by Indian manufacturer SAR and included Swedish angel investors Carl Pei, Anna Stenberg and Hugo Rehnberg.

According to the Swedish media, the investment is part of an ongoing major round of SEK 32 million, as the company intends to launch operations in a European city. At the end of 2018 the company raised a total of $2.2M in two successive rounds - 1, 2.

Bzzt, founded in 2014 by CEO Sven Wolf and Örjan Jansson, operates a fleet of 60 electric vehicles available 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.