The government agency loan will help the navigation technology firm accelerate product development.
"Digital maps have become part of everyday life for many but using them indoors still poses problems, given the lack of reliable positioning. Our platform overcomes this, providing a better experience for vistors to any large complex spaces, whilst enabling better decisions by operators. This loan will further help us to fast track its development and open up global opportunities for Living Map."
The Series A round was led by IQ Capital with backing from Cambridge Enterprise and Silicon Valley investors.
"Nyobolt batteries remove the limitations presented by conventional lithium-ion batteries. They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery technology and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries."
— Sai Shivareddy, Co-founder and Chief Executive Officer
