The Tyre Collective has launching its first crowdfunding campaign on Crowdcube with the round open to UK & EU-based investors on 9 February.
The cleantech start-up aims to reduce pollutants from tyres by a device attached behind the wheel, which captures tyre wear during driving.
So far the firm has secured £1.5m in funding, 8 UK grants and invested £1m into research and development. It now aims to scale-up pilot schemes, and expand product offers ahead of a 2025 commercial launch.
Tyre wear is being regulated in California and the EU, and this problem will only get worse with electric vehicles (EVs) from the added battery weight and torque, it states. As a result, without addressing tyre wear in the transition to EVs, transport will never reach zero emissions, it claims.
Now consumers can invest in the firm through Crowdcube. The early access channel is live now, ahead of the formal launch next month. The funding round is backed by renowned investors like Planet Fund & Katapult VC and supporters like the Royal College of Art, Imperial College London and Advanced Propulsion Centre.
Since its founding in 2020, The Tyre Collective has conducted 10 pilots and validated results by the industry – partnering with companies like CEVT, Volvo Cars, Zhero, Alphabet and a large EV manufacturer in the US.
Hanson Cheng, Co-Founder and CEO of The Tyre Collective, said: “We are excited to invite our growing community to join our mission and challenge existing standards of zero-emission mobility for a cleaner, healthier future.”
Early Access to the Tyre Collective’s Crowdcube can be found here.
Image courtesy of Tyre Collective.
