Velca secures €2.1 million via Crowdcube and angel investors.

Velca, a Madrid, Spain-based manufacturer of electric motorcycles, announced the completion of a financing round of €2.1 million ($2.5M).

The money was mostly raised via Crowdcube, where 700 investors contributed with €1.83 million ($2.2M). The rest was raised from angel investors, including René de Jong and leading investors in Spain such as Tom Horsey, Hugo Arévalo and Jesús Alonso Gallo.

Velca, founded in 2019 and led by CEO Emilio Froján, produces 100% electric motorcycles and mopeds with an intelligent system designed to improve the urban mobility sustainability. The company previously raised €747k on Crowdcube in 2020.