Paris, Thursday, April 20, 2023. Kate has announced a fundraising round of €7 million to deliver the first of its range of cars, the Original, and to fund the development of its K1 micro-car. Founded in 2022 by Thibaud Elzière, Matthias Goldenberg and Pierre Escrieut, Kate is a French brand which produces light electric micro-cars to meet today’s challenges in terms of sustainable and responsible mobility.
Kate champions the idea of light four-wheeled vehicles which are suitable for transporting goods and people to meet the energy and environmental challenges of everyday life. Kate’s founders are inspired by “Kei Cars”, the micro-cars which were originally developed in Japan in the 1950s and are highly regarded today for their practicality and affordability.
“We are confident that two-ton SUVs, whether they have an internal combustion engine or are even electric, are not the future of everyday mobility. Used for everyday journeys, tomorrow’s car will be light, clean and energy-efficient and will offer equal protection for drivers, passengers and other road users. It will ensure the decarbonization of the automotive industry but its success will be guaranteed by the fact that it will be less expensive to buy, to produce, use and maintain than a traditional car,” explains Matthias Goldenberg, Kate’s CEO and co-founder.
“The acquisition of NoSmoke provides Kate with industrial infrastructure and sector-specific expertise which will give the company a decisive edge within an industry experiencing rapid development. It also provides Kate with a revenue stream that can partially fund future developments,” says Thibaud Elzière.
Kate recently launched the Original, a new and improved version of the NoSmoke; available in 14 colors, it has a range of 100 to 200 kilometers. Customers can now order the Original online on the brand’s website. Thanks to the company’s efficient production in France, Kate has already delivered its first cars after just 3 months.
Kate has raised €7 million in seed funding from investors involved in the tech and automotive industries, including Julien Lemoine (CTO/founder of Algolia and race car driver), Emmanuelle Brizay (AC8 INVEST), Christophe Maurissen (Managing Director Alcogroup), Romain Afflelou (CEO Cosmo Connected), Benoît Charles-Lavauzelle (CEO Theodo), Antoine Leconte ( Founder Cheerz).
The money raised will be used to pursue the development of its new micro-car, the K1. “Designed for the realities of modern living, this light electric car can transport up to 4 people, making it perfect for everyday journeys, shopping and commuting, whether in the city or the countryside. With its modern design and exceptional performance, the K1 is destined to become one of the most iconic cars of our time,” says Matthias Goldenberg, Kate’s CEO and co-founder.
Kate was founded in 2022 by Matthias Goldenberg, Pierre Escrieut and Thibaud Elzière. Focused on local mobility, Kate develops a range of light electric vehicles for use in the city and the countryside. Kate is launching the Original, a leisure micro-car, before other future developments.
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