Is the electric scooter about to make a comeback?

‍What’s happening:‍

• Electric scooter startup Infinite Machine has raised $9M USD in a seed round
  
• The round was led by prominent Silicon Valley venture capital fund a16z
  

The big idea:‍

• Infinite Machine has developed a new type of electric scooter known as the P1 which is both durable and the fastest electric scooter of its kind
  
• The P1 is also purpose built to be able to navigate through urban cities easily, can operate in reverse and is easily stored or parked in small spaces
  

By the numbers:‍

• Infinite Machine’s P1 scooter can reach top speeds of 55 miles per hour and has a total range of 60 miles on a full charge
  
• The P1 electric scooter will initially be for sale for $10,000 USD
  

Going deeper:‍

• The founders of popular software company Replit and AI startup HuggingFace both participated in Infinite Machine’s seed round as angel investors
  

The fine print:‍

• Many venture backed startups focused on electric scooters and motorbikes such as Bird and Cake struggled to find a way to sustainable profitability and ultimately ended up in bankruptcy

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