‘EV Health Checker’ maker ClearWatt reaches £200,000 fundraising target with latest investment from Prova

Software company ClearWatt provides transparency in the used electric car market by measuring and certifying the health of EV batteries. The EV Health Checker app provides consumers and dealers with crucial information needed to make more informed purchasing decisions.

As part of its latest funding round, Prova Investments has taken an equity stake in ClearWatt, adding the software company to its growing European portfolio of start-up companies operating at the forefront of cleantech, sustainability and the circular economy.

Prova’s investment will take ClearWatt’s latest fundraising past its £200,000 target. Existing funders include the Department for Transport (DfT), the Office for Zero Emissions Vehicles (OZEV) and the Department for Business, Energy & Industrial Strategy (BEIS).

Patrick Cresswell, co-founder and director of ClearWatt, noted: “Using mobile telematics to collect driving data and measure key battery indicators, our self-service mobile app measures and certifies the health of EV batteries. This gives buyers the confidence that their EV has the range and lifespan they expect.

“We are on a mission to revolutionize the used electric vehicle market by providing consumers with clarity, reassurance and certainty. With the team’s proven expertise in future mobility and clean technology, we are pleased that Prova Investments has decided to join us on the next chapter of our growth journey.”

Richard Postins, founder of Prova investmentsadded: “At Prova Investments we see the crucial importance of used electric vehicles in supporting the UK’s transition to electrification, and ClearWatt offers buyers the clarity and confidence they need to make the switch to electric.

“This investment fits perfectly with our strategy to help tomorrow’s mobility, circular economy and clean technology companies scale and grow. We are pleased to support ClearWatt as the company continues to disrupt the used EV market.”