Kinewell secures £750k from the North East Accelerate Fund to scale operations and accelerate technology development.
Mercia Ventures backed the award-winning clean tech enterprise in its first external financing round.
Kinewell builds software that optimises the design of offshore wind farms, including cable layouts and transmission systems. Its technology helps developers reduce capital costs and shorten lead times.
Kinewell has secured £750k in its first external funding round from the North East Accelerate Fund, managed by Mercia Ventures. The capital injection will be paired with grant funding to support the expansion of the team and the acceleration of product development.
The Wallsend-based firm provides software solutions that streamline the design of offshore wind farm cabling and transmission systems. The latest injection of capital will allow the business to nearly double its headcount over the coming months and scale its commercial operations as the global renewable energy sector expands.
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Expand into international markets