SoFlow breaks another crowdfunding record

In their first crowdfunding campaign for the e-skateboard Lou Board, SoFlow reached its target-funding goal in a few hours after hours. Lou is an electric skateboard that allows for last mile transportation at a maximum speed of 35km/h. The e-skateboard is already available on the market; in Switzerland, the United States, China, Germany, and is shipped worldwide. The startup is now on the growth course with plans to increase its product offering and expand its global footprint.

Last week, SoFlow launched its second crowdfunding campaign on Seedmatch to raise 500’000 Euros venture debt in the next in 60 days. Two days after the launch, investors had contributed over 400’000 Euros, and today, 99% of the funds are available. The money will flow into accelerating product development especially for a new type of electric scooter and marketing. Additionally, the funds will finance its plans to optimize its corporate structure sustainably.

With the planned new scooter, SoFlow will introduce a sharing concept as a supplement to public transport in cities on the first and last mile. SoFlow is already working closely with a large state-owned group in Switzerland and with partners from major automobile manufacturers.

“The initial focus will be on the further development of the Lou Board, the development of the e-scooter and the associated establishment of a sharing model," says SoFlow co-founder and CEO Manuel Hug. "In the marketing area, we want to establish a new brand shop, expand our presence at trade fairs and invest more in influencer marketing. All planned measures also require an extension of our team."

Best Vehicle technology startup at CES Asia
Thanks to its innovativeness, SoFlow/LOU won the category “Best Vehicle Technology Startup” at CES Asia. Organised by Technode, the award took place for the first time within the framework of CES Asia, the largest event for the consumer technologoes industry.

(Press release/ran)