Pavegen raises £2.4m on Crowdcube to scale manufacturing and expand sales operations.
The crowdfunding campaign drew anchor investment from Hinduja Group and Tamar Capital.
Pavegen converts the kinetic energy of footsteps into off-grid electricity and data for smart city and retail projects. Operating across dozens of countries, the firm supplies flooring technology that connects physical movement to digital rewards.
Pavegen has secured £2.4m through a crowdfunding campaign on Crowdcube, doubling its original target with backing from over 1,400 investors. The raise featured anchor commitments from Hinduja Group and Tamar Capital, alongside ongoing partnership work with Siemens.
The capital will support the company as it scales manufacturing operations and expands its sales reach into fast-growing markets across Asia and the US. The raise follows a strong financial year that saw the firm generate £1.8m in revenue across installations in 36 countries.
From the founder
"We believe in placing people at the heart of the smart city. That’s why crowdfunding works so well for us and it’s been great to welcome so many investors into our community. With the support of Hinduja Group, Siemens and Tamar Capital, our plan of making our technology ubiquitous for all cities becomes achievable."
Laurence Kemball-Cook
CEO at Pavegen
Investor perspective
"It’s an exciting time for Pavegen with new projects in airports, retail sites and smart city developments in Asia, the Middle East and North America. We believe the Hinduja team will be able to play a key role in enabling the Pavegen team to rapidly bring their ambitious vision to life."
Shom Hinduja
President of Alternative Energy and Sustainability Initiatives, Hinduja Group
Use of funds
- 01Expand into international markets
- 02Scale operations
Investors
Categories
About the company
Pavegen
Pavegen turns footsteps into off-grid electricity and data for smart cities.