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.

Alexander Schey CEO at Vantage Power
Alexander Schey, CEO at Vantage Power

"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

BusinessVantage Power
RegionLondon
SectorManufacturing
Type of fundingAngel

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.

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.