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Thursday, 25.04.2024, 19:43
Latvian go-kart maker seeking to raise up to EUR 300,000 in Estonia through crowdfunding
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Recently, clients from the Middle East have demonstrated their interest towards the electric powered hobby karts manufactured by Blue Shock Race and a preliminary agreement on the manufacture of a few hundred units has been signed, the company said.
Blue Shock Race said that in order to fulfill an order of that size, it needs to significantly expand its manufacturing capacity, which requires a sizeable investment.
To accomplish that, the company decided to raise money via crowdfunding.
At this stage the company is expecting to raise from EUR 100,000 to EUR 300,000 on Fundwise. Its eventual goal, including next rounds, is an investment of EUR 4 mln.
For Fundwise, Blue Shock Race is the first international project, as previously mainly small and medium sized companies from Estonia have been funded via the platform.
On its website, Blue Shock Race describes its electric go-kart as the fastest way to experience the power of a supercar. It says their sports electric go-kart reaches a speed of 100 kmh in about 3-4 seconds, has a top speed of 180 kmh and can race up to 25 minutes with a single charge.
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