Munro launches crowdfunding initiative
- Posted by: Alan Feldberg
- Category: News
Scottish manufacturer of all-electric 4x4s Munro has announced an equity crowdfunding round.
The initiative has been launched with leading global online investment platform Seedrs and will run until 31 October.
The investment funds raised will enable Munro to capitalise on considerable customer interest, deliver its first production vehicles, hire more people, scale its premises, and expand resources.
Munro CEO and co-founder Russell Peterson said: “We have already had significant interest from the investor community and are extending that offer further to entrepreneurs, private individuals, and customers. We want to give them the opportunity to become part of the Munro story and take advantage of the unique solution our products provide and the significant imminent legislation-driven market opportunity the brand is poised to leverage.
“Munro has paid reservations and sales agreements for eight pilot vehicles in 2023 and 221 production vehicles in 2024-2025, and we plan to progressively ramp up production to 2,500 vehicles per year by 2027.”