Bzzt secured SEK 12M in more capital

Sweden Investments 02 October 2018
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Bzzt, a Stockholm, Sweden-based startup providing a transportation solution via pods, secured SEK 12M ($1.3M) in a new investment round. The money was raised via an equity crowdfunding campaign and will be used to grow its fleet of vehicles from just under 50 to around 200 by the end of 2019.

Bzzt, founded in 2014 and led by CEO Sven Wolf, manages a fleet of small, electric taxi pods, which are made available as taxis 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.

For 2018, the company expects sales of SEK 11M, with a loss of around SEK 10.7 million. Prior to this capital raise, Bzzt secured more than $1M in investment.