Spark EV Technology raises £615k to expand into international markets and develop micromobility solutions.
The company surpassed its initial £530k target with backing from angels and institutional funds.
Share allotment filed at Companies House
Spark EV Technology develops intelligent software products for electric vehicles using learning algorithms, focusing on range prediction accuracy.
Spark EV Technology has raised £615k in a funding round, exceeding its original target of £530k. The capital was secured from various sources including prominent angels from Google, senior automotive investors, Low Carbon Innovation Fund, and New Anglia Capital.
The company will use the proceeds to expand its geographic reach into China and the US. Additionally, the funds will support the development of its technology for micromobility sectors such as eScooters and eBikes.
Spark EV Technology has previously collaborated with institutions like The University of Essex through a Knowledge Exchange Partnership. The business is currently revenue generating and pre-profit.
From the founder
"To develop this expertise Spark requires a collaborative venture with suitably qualified experts to add to its engineering team. Our partnership will accelerate our speed to market and deliver leading functionality in an affordable way, helping us increase market growth and technology independence. Thank you for your support during the process."
Justin Ott
CEO at Spark EV Technology
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Spark EV Technology
Spark EV Technology builds intelligent software products for electric vehicles.