Vantage Power

Vantage Power used Angel Investment to fund its technology development

Vantage Power, a battery and telemetry technology company, used Angel Investment to provide working capital while it developed its product and ran customer trials.

"As an entrepreneur, you get knocked about a lot from an emotional perspective. Very quickly setbacks feel like water off a duck's back compared to the other drama going on!"

Alexander Schey CEO @ Vantage Power

Vantage Power business fact-file

Business Vantage Power
Region London
Sector Manufacturing
Type of funding Angel

Key Takeaways

The Challenge

We needed capital to fund technology development.

The Finance

£2.3 million

The Outcome

We secured £2.3m in funding of which the Angel Co-Fund contributed £700,000.

Vantage Power's journey to finance

  • At Vantage Power we design and manufacture innovative battery packs, control systems and telemetry technologies for hybrid and electric heavy-duty vehicles. Our aim is to radically reduce harmful tailpipe emissions.
  • In early 2017 we generated £2.3m in predominantly Angel Investment in 2017. Of that amount, £700,000 came via the Angel Co-Fund.
  • That finance allowed us to fund technology development and provided working capital while customer trials and revenue kicked off.
  • I've led the business through several rounds of funding so I was relatively confident we'd be able to secure funding.
  • The process was long and it was a fairly substantial body of work, but not unreasonable given the amount of funding sought. And there was plenty of support from the Angel Co-Fund team.

Vantage Power's Top Tips

  • 1

    Focus on the investors as much as how much you can raise from them.

  • 2

    The benefits of having a supportive and knowledgeable investor base cannot be overstated.

  • 3

    Having the emotional engagement of skilled business people can often make a substantial difference to young businesses.

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The best bits about Angel Investment

  • It's a long and fairly substantial body of work but not unreasonable given the amount of funding sought.

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