6 years ago
Pavegen Raises Over £2 Million on Crowdcube for Smart City Solutions
Pavegen, a London-based startup that converts kinetic energy from footsteps into electricity and data, has successfully raised over £2 million on Crowdcube, exceeding its initial target of £950,000
The funding round was supported by over 1400 investors, including lead investments from Hinduja Group and Tamar Capital
Pavegen's technology has been deployed in 36 countries, including smart city developments, retail destinations, transport hubs, and education institutions
The company plans to use the funds to expand its operations and make its technology ubiquitous in cities worldwide.
ProblemTechnology
"Cities are becoming increasingly crowded and energy-intensive, leading to environmental and economic challenges. Pavegen aims to address this by harnessing the kinetic energy of footsteps to generate electricity and data, creating a more sustainable and connected urban environment."
Solution
"Pavegen has developed a technology that converts the kinetic energy of footsteps into electricity and data. This technology can be integrated into walkways, pavements, and other public spaces, generating clean energy and providing valuable insights into pedestrian activity. Pavegen's digital ecosystem connects to people's smartphones, rewarding them for steps on Pavegen walkways, encouraging engagement and promoting sustainable behavior."
