Switch to EVs made easy through the power of data: UK startup Diode pockets seed funding at £2.1M valuation
With its roots in Lincolnshire, Nottingham, and London, electric vehicle tech startup Diode 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. Now, the company has pocketed seed funding in a round led by Haatch Ventures along with angel investors and NorthInvest. With this, Diode’s is now valued at £2.1 million.
The latest investment round follows the £146K funding it secured from Innovate UK back in October 2020. The capital will give Diode the runway it needs to take its disruptive platform to market, refine the user experience, deliver its innovative product roadmap, and gear up for rapid international growth.
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.”
Switch to EVs made easy!
Diode was founded in 2019 by Jon Horsfield, Dan Eyre, and Tristan Dodson to help tackle the climate emergency, make sure businesses and consumers get the right infrastructure, and give access to electric vehicles available to many. Its core software platform, BusinessCharge is likely to be launched in the market this summer.
The innovative web-based software platform is an easy-to-use all-in-one solution that helps businesses, employees and consumers assess their electric vehicle suitability, generate a tailored charge point rollout plan, and purchase charge points through an automated tender process.
With the ban on diesel and petrol vehicles in the UK to come into effect in 2030, Diode is working on a mission to drive a faster and easier switch to electric vehicles across the world.