The company has raised £2m in a funding round featuring a £725k growth loan from the Greater London Investment Fund.
"We’re delighted to close our £2m funding round including support from the Greater London Investment Fund. Greener energy is essential for a sustainable future and Powervault is a clean yet simple way for people and companies to save money and reduce CO2 emissions. We are at the start of a revolution in the way we generate and use energy. Electricity consumption is set to double as we move from heating our homes with gas and fuelling our cars with petrol to using clean renewable energy. To do this we need to store wind and solar power which often comes along at the wrong time. Powervault is key to achieving this."
The funding includes backing from Equity Gap, SIS Ventures, Alba Equity, the Scottish Investment Bank and Innovate UK.
"This is such an important milestone for Trojan Energy. Ever since we started this business, we have wanted to ensure that the benefits of the low carbon transition can be realised by everyone and not just those with a driveway. With this investment, our vision has moved a step closer. The rewards for our customers and our planet will be massive and prove the point that a big idea and great engineering can change the world."
The round was led by GAN Ventures, the investment arm of GAN.
"we’re extremely excited to have received investment from GAN Ventures. With their network, support, and track record of helping build highly successful companies GAN were the perfect partner for Ovon. With our hardware and software expertise and GAN’s support we can’t wait to take Ovon’s products to market in the near future"
The seed round was led by Caygan Capital founder Naruhisa Nakagawa to support platform expansion.
"As a young and disruptive startup, we are thrilled to have garnered support from a strong network of energy and technology investors who recognize Zeigo’s early achievements and our future business strategy."
