Electric 4x4 manufacturer Munro EV secures £2m from Elbow Beach
At a glance
This article covers a £2m funding round on 7 October 2025 for Munro EV, the Glasgow-based electric 4x4 manufacturer founded by Russel Peterson. The funding totals £2m, led by Elbow Beach and other parties.
What does Munro EV do?
The M-Series is an all-terrain electric vehicle with a 1,000 kg payload and over 170 miles range per charge. It is intended for mining, defence and construction to carry equipment and personnel across rough off-road sites.
Why is Munro EV useful?
Problem
People in mining, defence and construction rely on diesel all-terrain vehicles that emit large greenhouse gases and pollutants. Commercial off-road vehicles have few electric alternatives despite demanding environments and heavy payload needs.
Solution
Munro EV explains that it builds the M-Series electric 4x4s to replace diesel vehicles in harsh sites, removing operational emissions. They offer 1,000kg payload and over 170 miles of real world range per charge for heavy work.
How much did Munro EV raise?
Munro EV has secured £2m in fresh funding from existing investor Elbow Beach alongside other parties to accelerate production of its M-Series vehicles. This makes it the 15th largest funding round in October 2025 (19 recorded). It stands 347th for 2025 (491 total) in the Startupmag database, as of 7 October 2025.
For details on how Startupmag compiles its rankings, view our Methodology.
Who invested in Munro EV?
Key investors include the following.
- Elbow Beach: An investor focusing on advanced manufacturing and industrial technology in the UK. An existing backer that provided follow-on funding to help Munro scale its Glasgow production facility and expand output.
In the funding announcement, JP from Elbow Beach said:
Elbow Beach is proud to support Munro, a standout example of Scottish advanced manufacturing. Through its focused approach, Munro is delivering a capital-light solution that accelerates decarbonisation while driving meaningful commercial benefits for the real economy.
If you're researching potential backers in this space:
- Explore our list of cars venture capital firms in the UK
- Browse our directory of cars angel investors in the UK
Who founded Munro EV?
Russel Peterson is the founder of Munro EV.
In the funding announcement, Russel Peterson explained:
Mining companies, defence interests and construction firms are actively seeking alternatives to diesel-powered vehicles, both to meet sustainability targets and reduce operational costs. The M-Series delivers on both fronts without compromising the performance these industries demand.
Where is Munro EV based?
Munro EV is based in Glasgow, UK.
What sector is Munro EV in?
Munro EV operates in the electric vehicle sector. This sector makes vehicles powered by batteries rather than petrol or diesel. In plain terms, these are cars and vans you charge instead of filling with fuel.
Key trends and challenges in Cars:
Electrification of heavy and off-road vehicles
Commercial and off-road vehicles lag passenger EVs, yet mining causes roughly 4–7% of global emissions.
Charging and energy logistics in remote sites
Many industrial sites lack reliable charging or grid connections, requiring onsite battery systems or microgrids.
Scaling specialised manufacturing and skills
Producing durable, niche EVs at scale needs new production lines and hundreds of trained workers.
For a deeper look at innovation in this space, see the cars startups in the UK.
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