Portable Electric Scooter Company Unagi Secures $3.15 Million In Funding

By Annie Baker ● October 7, 2019
  • Portable electric scooter company Unagi announced recently that it raised $3.15 million in a seed round of funding led by Menlo Ventures

Unagi — a portable electric scooter company — announced recently it raised $3.15 million in a seed round of funding led by Menlo Ventures. With this investment, Unagi plans to directly scale its business with continued research and development and increased production.

Since launching on Kickstarter in 2018, Unagi has seen overwhelming demand for its premium scooters. The Unagi scooters have a sleek and modern design that are light and high-quality. And it makes them the great choice for commuters who need to get from point A to point B seamlessly and look good while doing it.

“The electric scooter has proven itself to be a transformative device replacing the car and mass transit for short-distance travel and commuting,” said Unagi CEO and founder David Hyman. “We set out to make the ideal personal liberation device – an electric scooter that is light, portable, and fast, with performance and aesthetic that puts it leaps and bounds above anything else on the road. With our financing options, consumers can own the best for less than scooter renting habits.”

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Unagi scooters are built with carbon fiber, magnesium, and CNC-machined aluminum. And the dual motors are powered with 450 watts so it packs more power per pound than some of the other scooters on the market. Plus there are no visible wires and no bulky console. And it is controlled with an integrated command center that connects the riders to the ride.

“The micro-mobility movement is still in the early days of a several decade trend that will remake the layouts of our cities and the way we move,” added Menlo Ventures partner Shawn Carolan — who led the funding round. “The market has spoken, and it’s clear that consumers love e-scooters. As the market expands, both sharing and ownership will be big businesses and we see tremendous opportunity for Unagi to build the premium owned device with a great balance of power, lightweight, and beautiful design.”

The Unagi scooter is able to travel long distances on a single charge and it tackles hills with ease and smooths over rough road surfaces via patented air gaps ingeniously embedded in the tires. And one gentle push on the ergonomically optimized lever and the dual electronic anti-lock brakes bring the rider to a safe and steady stop. On top of that, Unagi’s solid rubber 7.5” wheels are puncture-proof so they’ll never go flat. Unagi scooters are owned by influencers like Billie Eilish, Kendrick Lamar, Halsey, Steve Aoki, and Lizzo.

Unagi’s design puts portability before anything else. And at 24 pounds, it is one of the lightest e-scooters out there. Plus it has a patented “one-click” hinge system thus allowing the scooter to fold and lock with a push of a button. This engineering breakthrough makes it dramatically easier to fold and carry than every other scooter on the market. Customers have the option of purchasing one for as low as $840 or can participate in a pay-by-installments plan for as low as $35 per month.