Diode secures seed funding at a £2.1m valuation led by Haatch Ventures and NorthInvest
Haatch Ventures and NorthInvest led the seed round to support international expansion and product development.
Diode provides a web-based software platform that helps businesses, employees, and consumers evaluate electric vehicle suitability and procure charge points. The start-up operates across Lincolnshire, Nottingham, and London.
Diode has secured a seed investment valuing the electric vehicle technology start-up at £2.1m. The round was led by Haatch Ventures, with participation from NorthInvest and angel investors.
The capital will support the commercial rollout of the company platform, user experience refinement, product roadmap delivery, and international expansion efforts. This follows a £146k grant awarded by Innovate UK in October 2020.
From the founder
"We’re incredibly excited about what this investment enables us to do and really pleased to have gained such a strong vote of confidence from an incredibly experienced group of investors. Haatch Ventures and our Angels bring with them a huge amount of knowledge from across the consumer tech space and scaling start-ups, which we’re certain will put us in an even stronger position and build on the fantastic work we have done so far."
Jon Horsfield
Founder & CEO at Diode
Investor perspective
"We’re thrilled to be backing such an ambitious team committed to making the switch to electric vehicles much easier and a more sustainable future for all. Diode is uniquely placed to fill a growing gap in the market and has the potential to disrupt the industry across the UK and the rest of the world."
Simon Penson
Partner, Haatch
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Diode
Diode offers a software platform for electric vehicle suitability assessment and charge point procurement.