Red Electric to raise a €3 million round from existing investors.

Red Electric, a Saint Etienne, France-based manufacturer of electric scooters, raised more capital funding, in a round closed at €3 million ($3.4M).

The money was raised from existing shareholders 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.

Prior to this round, Red Electric raised €10 million in 2021.