Revonte added €400K in in seed funding from Butterfly Ventures and angel investors.

Revonte, a Tampere, Finland-based startup working on the development of a smart electric wheel drive systems for bikes, completed an EUR 400k ($457k) capital investment round.

The funding was provided by the investment company from Finland Butterfly Ventures and local angel investors.

Revonte, founded in 2018 by CEO Antero Jalkanen, CTO Otto Chrons and Iiro Peltola, built a software-based electric motorcycle engine. The company's innovation is that the features are software-based and the engine connects to the cloud and mobile application. It provides remote bike engine diagnostics, remote software updates, wheel tracking, and anti-theft systems for remote engine locking, for example. It also allows for city bike driving.