WAU secures £650k pre-seed funding from Angel Investment Network to scale production and mapping technology.
The Birmingham-based smart electric vehicle startup has raised funds to expand manufacturing and advance autonomous mapping.
Birmingham-based smart electric vehicle and energy storage startup producing long-range e-bikes and modular power systems. The firm focuses on urban mobility solutions and autonomous vehicle mapping technology.
Smart electric vehicle developer WAU has secured £650k in a pre-seed funding round facilitated by Angel Investment Network. The capital will be directed towards advancing the company near-vision mapping technology and doubling production output at its Essex manufacturing facility. Additionally, the funds support the relocation of the central headquarters to Birmingham to recruit senior personnel and drive direct-to-consumer expansion.
The raise follows strong consumer demand and recognition from major publications for its long-range e-bike platform. The firm aims to leverage its onboard computing capacity to feed road data into autonomous electric vehicle networks.
From the founder
"We are delighted that AIN investors have backed our vision of transforming the mobility sector with a powerful and portable alternative to full size Smart EVs such as Polestar, Tesla and Lucid. There is simply no 2-wheel EV platform on the planet that would take all large 4-wheel EV perks and make them portable, from eliminating range anxiety to worldwide tracking to supercharging."
Linas Pozerskis
at WAU
Investor perspective
"WAU is one of the most exciting teams we have worked with. Their vision of advancing the EV sector combined with the drive and passion they have for executing it has really set them apart. It was a key component in their ability to bring experienced angel investors onboard from our network. Alongside that, the work they’ve done to strengthen and control their supply chain is a prime example of their dedication to doing things the right way over the easy way. We’re thrilled to have helped support their oversubscribed round on this exciting next phase."
Sam Louis
Director, Angel Investment Network
Use of funds
- 01Continue product development
- 02Grow the team
- 03Scale operations
