The company Endurance Motive, founded by Ander Muelas and Carlos Navarro in 2018, recently closed a $2.4 million (€2 million) investment round. Of that amount, more than $240,000 (€200,000) has been achieved through the equity crowdfunding platform of SociosInversores.com.
Endurance Motive’s project improves the environmental footprint. They have created lithium batteries that reduce the environmental impact and can be used in the industrial and naval sectors, as well as in public transport vehicles, among others.
The advantages of these batteries include cost reduction and space and weight optimization. According to them, all the batteries have been designed and manufactured in Spain following manufacturing techniques and protocols of the automotive sector.
Read more about the successful crowdfunding campaign launched by Endurance Motive and read other business headlines with the Born2Invest mobile app.
48 private investors
SociosInversores.com stated that the interest unleashed by the project meant that the investment round was completed in five hours. However, not all interested parties were able to participate. In fact, 48 private investors from the SociosInversores.com Investors Network participated in the retail round.
Apart from Equity Crowdfunding, several Family Offices, partners who were already part of the company, investors from the BME Growth Environment and company employees participated in the investment round.
3.3 million investment
Both Muelas and Navarro have expressed their surprise at the success of the crowdfunding campaign they were able to launch. They explained that they decided to reserve part of the capital increase to Equity Crowdfunding to offer greater liquidity to investors at the IPO.
The creators of Endurance Motive are engineers. In the three years that the company has been in operation, they have raised $3.9 million (€3.3 million) in investment in different rounds. In 2020 the company had a turnover of $2.75 million (€2.3 million). The forecasts for this year exceed $5.97 million (€5 million), which is due to the international expansion of the project.
In addition, the company has already started making projects for the marine industry, which are expected to be ready by 2022.
Endurance since its constitution on 02/23/2018 has attracted 1.3 million investors in different rounds In just three years Endurance Motive has gone from a first year 2018 without relevant billing, to billing $405,000 (€340,000) in 2019 to $2.7 million (€2.3 million) in 2020.
In 2021, the forecasts are to exceed $5.9 million (€5 million) in turnover thanks to the international expansion that has begun, as well as the first projects for the marine industry that the company hopes to have by the end of 2022. Following the closing of the extension, Endurance would be transformed into SA and during the second / third quarter of 2021 it intends to apply for admission to trading of its shares in BME Growth.
Project with great potential in a booming market such as lithium batteries as well as electromobility. The incorporation of the company to BME Growth will give the partners the possibility of immediate liquidity, as well as the transparency and guarantee of good management of the company that it requires when it is listed. Environmental footprint : The lithium batteries of the Endurance Marine range guarantee the best results: they reduce the ecological impact , reduce costs, optimize space and weight, simplify systems and allow a quiet navigation with silent operations near the Port, restricted areas or in fishing areas, among other advantages.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Cincodias, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
How Trade Reduces Food waste Almost Entirely
In 2020 in Spain, around 1% of the products were never marketed. This is due to several reasons such as...
Community Foundation Raises Money for Flood Victims in Como, Italy
The flood that hit Como has made headlines. The Community Foundation is now raising funds to help people affected. The...
The Fintech Sector in Argentina Now in the Spotlight: New Security Standards for e-Wallets
ABA and Adeba, two chambers of private banks, asked the Central Bank for greater controls and regulations for fintech companies...
The First Medical Cannabis Agricultural Cooperative in Argentina
While at national level the Law of Productive Cannabis is being debated, which will promote the constitution of Cooperatives that...
Enerbrain Collects €5.2 Million from EDF, Equiter and Azimut Digitech Fund
The investment round comes after a record year for Enerbrain, which has seen its revenues grow by more than 300%...
Business6 days ago
Forget Facebook (NASDAQ: FB) and Apple (NASDAQ: AAPL): Virtual Reality (VR) and Augmented Reality (AR) Investors Should Snap Up XRApplied (CSE: XRA) Instead
Cannabis6 days ago
El Cesar has the Conditions to Enter the Medical Cannabis Market in Colombia
Crowdfunding7 days ago
Four Million Round for the Italian Real Estate Crowdfunding Portal Walliance
Biotech7 days ago
Rovi Shoots Up 72% its Profit in the First Half of 2021