Smart-EV startup raises £650,000 in pre-seed funding round
Birmingham-based smart-EV and energy storage startup We Are Universal (WAU) has raised £650,000 in a pre-seed funding round with Angel Investment Network.
WAU, launched in 2018, is a fast-growing smart-EV vehicle platform and its product offering includes WAU Bikes, a smart, long range electric bike with a powerful onboard computer, the two wheel version of the smart electric car; and soon unveiling the WAU Powerwall, enabling the bike’s power cells to be linked together to serve as power storage for solar homes and power plants among other uses.
Finally WAU vision, its data gathering capability for an autonomous EV future, is rolling out to all current and future riders of WAU across the world.
The investment will enable the business to advance its nearvision mapping. WAU is the only two-wheel EV platform that has enough physical space and energy onboard to compute, process and send the road data required to help all EVs reach level 5 Auto-Pilot.
It has been rated as one of the top e-Bike brands in the world by the Financial Times and The Week.
The funds raised will also mean the business can double the production volume at its Essex plant to keep up with growing customer demand.
The business is relocating the central HQ from Nottingham to Birmingham to focus on hiring senior talent to quickly expedite front-end growth of WAU as a quickly expanding DTC brand.
Co-founder Linas Pozerskis: “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.”
He added: “We are proud that our bikes are British designed, tested, programmed and manufactured. With all ongoing innovation WAU’s will become appreciating assets. After focusing heavily on R&D in the initial phase, this investment will help us scale production to the next level and advance our game-changing WAU Auto-Pilot mapping.”
Sam Louis, director Angel Investment Network, said: “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.”
