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International Internet Magazine. Baltic States news & analytics Monday, 11.12.2023, 03:01

Estonian startup Upsteam developing electric carwash bike with Norwegians

BC, Tallinn, 11.12.2020.Print version
The Estonian startup Upsteam, which offers mobile carwash services, has entered into a cooperation arrangement with Norwegian manufacturer of e-bikes CityQ for the development of a carwash e-bike, writes LETA/BNS.

The size of the budget of the three-year project is 1.4 mln euros.

Upsteam said in a press release that the goal of the project is to make carwash greener and bring its own technology platform to the next level.

"We have set supporting carbon neutrality and showcasing the need for efficient use of water as a goal, whereby to balance off the impact of the whole carwash industry on the environment," Martin Kristerson, founder of Upstream, said in a press release. 

The cost of the project is divided equally between Upsteam and CityQ and it is financed by Enterprise Estonia (EAS) and Norway Grants.

Upsteam estimates to grow by close to 30% this year. Due to the pandemic, it has postponed plans for raising investments.

"In November we had to make several difficult decisions, including on closing down on the Polish market and laying off some members of the key team. Temporary suspension of expansion and less important operations help us maintain a sharper focus on growing on the Estonian and Finnish markets," Kristerson said.

Upsteam is a mobile carwash company that started business in February 2017. Its founders are Martin Kristerson, Valjo Kutt and Aleksis Anijarv. In 2019, the company raised one million euros in investments on the Funderbeam platform.

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