Electric cargo scooter Bruntor received €100K from Latvian accelerator Buildit
Latvian electric scooter for parcel delivery companies with cargo box Bruntor secured €100K from Latvian hardware and IoT startup accelerator Buildit. The startup plans to raise €500K in this round this year. Bruntor expects to receive a €3M valuation during the round.
Founded in Riga in 2021 by Raimonds Jurgelis and Elvija Vanaga, Bruntor started to develop a 4-wheel off-road skateboard, but, in 2022, it made a pivot to a 4-wheel cargo scooter due to the lack of market opportunity for electric skateboards.
A zero-emission cargo scooter has a maximum load capacity of 120 kg and driving speed - 25km/h. According to the company, it has advantages over its main competitors. The vehicle is cheap, easy to move, and it can ride on bike lines. The cargo scooter takes ten times less energy costs, than an electric van, and it is 15% faster than a cargo bike.
Currently, Bruntor partners with Latvian Post, and offers a short-term rental. The startup took first place in the Business Idea Competition in Latvia “Ideju kauss 2021” and got a €10K price from a Latvian investment and development agency. In February 2022, Bruntor became alumnus of the 14th Batch of the Buildit accelerator, during which it received €20K to build electric skateboards. After the pivot, the company won first place in the program for early-stage startups Jumpstarter at the end of 2022 during EIT Urban Mobility, organized by the European Institute of Innovation and Technology. Back then the company received €10K.
Buildit is a Nordic hardware & IoT startup accelerator. It provides €10K to €50K of pre-seed investments best-performing startups and up to €250K of seed investments. In 2023, it invested in Latvian developer of submarine drones for water quality monitoring SUBmerge Baltic, Tallinn-based developer of AI solutions for water quality monitoring applications Waterson Technologies, Latvian startup Adventum Tech, which optimizes construction and engineering processes through data management and Latvian platform Abillio, which allows freelancers to become members of a cooperative and send invoices to customers.
