Jump to:

Munro Vehicles hero image

Munro Vehicles

Follow

Munro Vehicles is a fully-electric commercial vehicle manufacturer based in Glasgow.

69%
 - 
18 days left
£650,069 target
£454,112 from 95 investors
More
Less

Business overview

Location Glasgow, United Kingdom
Social media
Website www.munro-ev.com/
Sectors Automotive & Transport Non-Digital Mixed B2B/B2C
Company number SC635202
Incorporation date 4 Jul 2019
More
Less

Investment summary

Type Equity
Valuation (pre-money) £18M
Equity offered 3.49%
Tax relief

EIS

More
Less

Business highlights

  • £1.75m raised to date
  • Multiple working prototypes in testing
  • Paid reservations and sales agreements confirmed
  • Flagship product: Munro Series-M
More
Less

Key features

  • Secondary Market
  • Seedrs nominee min. £98.57 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

Munro Vehicles based in Glasgow is a designer and manufacturer of fully electric commercial vehicles. Our mission is to develop and deliver next-generation zero-emission vehicles that help essential but carbon-intensive industries transition to net zero.

Our flagship product is the Munro Series-M: A specialist vehicle designed for the most demanding work and terrain in the world. The Series-M can act as a van, a 4x4 and a UTV all at once.

Key vehicle attributes:

· Available as a hard-top or pickup.

· Permanent 4x4, choice of either 180kW or 270kW motor.

· 85kWh LFP battery pack, 130kW charging speed.

· 1600L/1050KG cargo area, 3500KG towing capacity.

· ABS, Stability Control, Airbag, and roll-over protection as standard.

· 800mm Wading depth, 400mm ground clearance, approach and departure angles of 85/67 degrees respectively.

Please note, key vehicle attributes of the Munro Series M are provided through technical specifications and prototypes. The Series M is due for delivery in 2024 with these specifications.

Monetisation strategy

The Series-M gives companies an opportunity to radically decarbonise 4x4 fleets by adopting a highly capable vehicle with zero tailpipe emissions. Robust components, high-grade materials and corrosion protection all give the Series-M a long operational lifespan, further reducing the carbon impact of the vehicle.

Munro Vehicles' mission is to work directly with fleet operators to build exactly the vehicle they need for their business, providing in-depth vehicle customisation right from the factory.

Munro has paid reservations and sales agreements for 8 pilot vehicles in 2023 and 100+ production vehicles in 2024-25 for some of the biggest names in construction. Our immediate priority is to deliver Series-M pilot vehicles to early-adopter customers to demonstrate our product-market fit.

Our production deliveries are targeted to start mid-2024, and we plan to progressively ramp up production to our target of 2500 vehicles per year by 2027.

Open an account to get access to more details about the Munro Vehicles campaign

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account to get access to more details about the Munro Vehicles campaign

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account to get access to the team members of Munro Vehicles

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account to get access to the Munro Vehicles campaign updates

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account to get access to the list of investors in the Munro Vehicles campaign

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account and verify your identity to get access to the Munro Vehicles discussion

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Open an account and verify your identity to get access to the Munro Vehicles pitch deck and other documents

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £17,999,178

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

Find out more

Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

Find out more

Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Warning

You are following a link outside of www.seedrs.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

ContinueCancel