The funding round was supported by mobility sector leaders including Cabify founders Juan de Antonio and Vicente Pascual.
"I worked with the team at HumanForest for ten years at Cabify and I believe that this is another disruptor. It is three disruptors in one; it provides free mobility for users through its partnership model, protects the planet and appeals to partner companies who seek to demonstrate their social impact. We are already seeing the success of the model and I am excited to be involved in its future growth."
Turquoise International backed the electric vehicle software developer through its Low Carbon Innovation Fund 2.
"Spark’s technology addresses an important barrier to EV adoption, for passenger cars as well as buses and trucks. With EVs likely to make up 30% of global car sales by 2025, accurate range prediction is essential. This investment is consistent with LCIF2’s remit to support innovative, low-carbon technologies in the UK."
The funding round includes backing from Green Angel Syndicate as the company develops zero-waste packaging technology.
"Our aim is to make household staples truly sustainable and accessible to all, in terms of how products are made, used and priced. To help as many people as possible gain access to our service, we will need to be innovative throughout: with the design of the website, the packaging, marketing, the business model and more. This latest investment round will help us grow to scale economies, develop the closed loop and build our tribe."
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."
