Verv raises £827k from 1030 investors on Crowdcube to fund international growth.
The machine learning start up more than doubled its initial target with backing from 1030 investors.
Verv develops smart home energy assistants that monitor appliance health, analyse efficiency, and facilitate peer to peer renewable energy trading using blockchain technology.
London based machine learning start up Verv has raised £827k through a campaign on Crowdcube, significantly exceeding its initial £350k target. The capital was secured from 1030 investors and will support the company as it expands into international markets including the Middle East, the Far East, and Europe.
The crowdfunding campaign follows a recent £500k investment from innogy International Middle East to drive smart living initiatives in the region. Verv developed a smart hub that analyses household electricity consumption in real time and integrates blockchain technology to facilitate peer to peer energy trading.
From the founder
"We are thrilled to have support from 1030 new crowd investors as we embark on a journey from start-up to scale-up. Since our Crowdcube raise in 2017, we have gained interest worldwide for our smart hub technology and blockchain-based energy trading platform and we are excited to take on new markets and customers with propositions which span energy efficiency, insurance, elderly care and renewables."
Peter Davies
CEO and founder at Verv
Use of funds
- 01Expand into international markets