UK-based electric urban mobility firm Zapp has announced a new cash injection, which it says will allow production and roll-out of its new i300 electric scooter. There’s an initial investment of $1.5m from Yorkville Advisors Global LP via a standby equity purchase agreement, with a possible further $8.5m available via share issues over the next three years.
Swin Chatsuwan, founder and chief executive officer of Zapp EV, said: “Our design and engineering teams have delivered an exceptional product. With this vote of confidence from a renowned investor, we have the financial resources for the expected roll-out of i300s this year.”