Sweden's STILRIDE Raises €3.7 Million to Develop 'Industrial Origami' Production Technology

Swedish electromobility and industrial tech startup STILRIDE has raised €3.7 million to fuel future growth and innovation. STILRIDE has developed a production process, described as 'industrial origami', which involves the use of robotic arms to fold steel over curves to form light, strong and durable new shapes.

The technology, called STILFOLD, makes smarter use of resources and minimises waste, significantly reducing the climate impact of production compared to traditional manufacturing. 

The first product to be built using the technology is an e-motorcycle, the Sport Utility Scooter One (SUS1), will go on sale to the mass market in 2023. 

The company has over 135,000 people on the waiting list for its first e-motorcycle. 

STILRIDE has also recently announced partnerships with Swedish space innovation startup I.S.A.A.C - through which they’ll explore potential applications for their technology in outer space - and electric car company POLESTAR, with whom the team is collaborating to build the world’s first climate neutral car. 

This latest injection of funding will help STILRIDE further refine and develop the STILFOLD technology, bringing the team closer to achieving their mission revolutionising sustainable design and manufacturing using “green steel”. 

Jonas Nyvang, CEO and co-founder at STILRIDE, says:“We’ve been blown away by the interest in both our technology and our first e-mobility launch. We truly believe we have the power to change the future of sustainable design and manufacturing, and this new investment will enable us to push the boundaries of our technology even further, even sooner than we’d hoped."

He adds: “We’ve had unprecedented support from new and existing investors, but also from our community of technology, design and motorcycle enthusiasts, which has helped us get to this point. This is why we wanted to open this round up to the public. We’re really excited to be able to give our community the opportunity to own a small part of the company via Crowdcube’s platform, and have a genuine stake in our future as we continue to grow. This is a really exciting time for us and we can’t wait to bring more of you along for the ride.”

STILRIDE was founded by best friends Tue Beijer and Jonas Nyvang in Stockholm in 2019.

The company is enabling individuals to join the round with smaller investments, through a Crowdcube community fundraise which will end on 15th November.