Pure Electric, the e-scooter business founded by entrepreneur Adam Norris, father of Formula One superstar Lando Norris, is offering an opportunity to invest in the future of urban mobility.
The company is launching a crowdfunding campaign to raise millions from community investors, building on the £70 million of investment secured to date.
With partnerships with top-tier global brands like McLaren, Pure Electric says it is well-positioned to lead the micro mobility market, which is expected to reach $360 billion by 2030.
The first product collaboration with McLaren sold out in just 90 minutes, and the brand also made a splash at Paris Fashion Week in 2023 with a collaboration with Stella McCartney.
Adam Norris, a successful entrepreneur known for scaling companies like Hargreaves Lansdown, has already invested £60 million of his own money into Pure Electric, which turned over in excess of £20 million in its last financial year.
Pure Electric’s flagship products offer sustainable alternatives for urban transportation. Drawing on Adam Norris’s understanding of vehicle dynamics, gained from his involvement in Formula 1, these scooters are engineered for performance with a focus on premium aesthetics.
Operating in nine countries and more than 800 stores, including major retailers like Curry’s, Halfords, and FNAC, Pure Electric is scaling efficiently with a distributor-first model that minimises market-entry costs. The company has already invested £10 million in R&D.
Adam said: “Whether it’s Formula One or in business, the team is everything. Pure Electric’s crowdfunding campaign is not just about raising capital; it’s about creating a community and team of investors who share in the company’s vision to transform urban mobility.
“There are 4.4 billion people living in cities where urban transport is expensive, polluting, and inconvenient. Our beautiful and innovative products are a crucial component of the broader e-mobility revolution, offering a sustainable, and fun solution to urban congestion and pollution.”
Source: bing.com
