Red Electric announced raising €10 million from Céleste Management and A-Venture.

Red Electric, a Saint Etienne, France-based manufacturer of electric scooters, announced that it completed a €10 million ($12.1M) capital funding round.

The money was raised from investors including Céleste Management and A-Venture.

Red Electric, founded in 2015 by Bertrand de La Tour d'Auvergne, manufactures a range of electric scooters (i.e Model E50, E100, E125) that withstand 2,500 charge cycles and are offered for sale with four battery slots. The company works both with delivery companies and also sells the scooters on a retail basis.