Electric vehicle tech start-up valued at £2.1m after a funding round

Diode, the electric vehicle tech start-up, has announce the close of an investment round led by Haatch Ventures with support from angel investors and NorthInvest, at a valuation of £2.1m.

Diode’s web-based software platform helps businesses, employees and consumers assess their electric vehicle suitability, generate a tailored charge point roll-out plan, and purchase charge points through an automated tender process.

Following on from being awarded £146,000 from Innovate UK back in October 2020, this latest cash injection will give Diode the runway it needs to take its platform to market.

Simon Penson, partner at Haatch Ventures, said: “We’re thrilled to be backing such an ambitious team committed to making the switch to electric vehicles much easier and a more sustainable future for all. Diode is uniquely placed to fill a growing gap in the market and has the potential to disrupt the industry across the UK and the rest of the world.”

Jordan Dargue, investment director at NorthInvest, said: “NorthInvest exists to help innovative businesses with a presence in the North, like Diode, continue along their journey and reach new milestones. Diode has an excellent proposition with a highly credible team to execute their vision. We can’t wait to see what the future holds for them.”

Jon Horsfield, founder and CEO of Diode, said: “We’re incredibly excited about what this investment enables us to do and really pleased to have gained such a strong vote of confidence from an incredibly experienced group of investors. Haatch Ventures and our Angels bring with them a huge amount of knowledge from across the consumer tech space and scaling start-ups, which we’re certain will put us in an even stronger position and build on the fantastic work we have done so far.”

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