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Pavegen smashes crowdfunding target

We’re sending congratulations to Laurence Kemball-Cook of Pavegen today following the news that they have smashed through their crowdfunding target in a matter of hours.

Pavegen, a breakthrough smart city technology that converts footsteps into electricity and data, was looking to raise £950,000 in 30 days. But it surpassed that target in just a few hours and is now keeping a keen eye on how much it raises in total.

Laurence, who won Eco Entrepreneur of the Year at the Great British & Northern Irish Entrepreneur Awards in 2015 and 2016, said: “I have been blown away by the reaction, both from investors and across the media.

“Many of our existing investors have increased their shareholdings but it’s also great to grow the Pavegen community, which is why Crowdcube is such a great fit for Pavegen.”

Pavegen plans to use the funding to reduce manufacturing costs, and to grow its sales and marketing capabilities.

Its technology can power off-grid applications like lighting, data transmission & environmental monitoring. A person on a Pavegen walkway generates up to 5 watts of electrical power per step. The system can connect to phones via Bluetooth mesh, rewarding users for steps, generating permission-based analytics & recurring revenues.

You can find out more about the campaign here.