Published: 15 Feb 2021, 13:35
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Image: Power Roll.
Flexible solar company Power Roll hailed the success of two funding rounds, with a total £5.8 million investment to enable the company to scale-up manufacturing.
It received equity investment from 7 Ventures (i7v), Kero Development Partners and RAB Capital of £3 million. Additionally, it converted £1,250,000 loans into equity as part of the government’s Future Fund scheme.
The Future Fund scheme was launched to support businesses affected by COVID-19, including those pre-profit that rely on equity investment. The scheme initially offered £250 million of government investment matched by private investment, but has since been expanded. It opened in May 2020, and closed in January 2021.