Vässla raises $2.5M, wants to expand business.

Vässla (Vessla), a Stockholm, Sweden-based manufacturer of electric small vehicles, completed a SEK 25M ($2.5M) capital investment raise.

The funding was provided by a range of new investors from Sweden, including Fredrik Österberg, Pernilla Nyrensten and Niclas Nyrensten. The capital will be used to launch a new product and expand the company's availability outside Sweden.

Vässla, founded in 2017 by Rickard Bröms (CEO), Peter Klangsell and Mikael Klingberg, developed an electric scooter that can run at 45 kilometers per hour and reach a range of 40-60 kilometers per charge. The company is yet to become profitable and sold for SEK 21M ($2M) in 2018.

Prior to this round, Vessla raised about $1M from outside investors.