Visually impaired mobility innovators, WeWALK secure over £1.5m investment
by Startacus Admin
WeWALK secures investment to help further develop its innovative technology and grow its global market presence.
The good news keeps coming for WeWALK, the company behind unique products that enhance the lives of visually impaired people!. Hot on the heels of the announcement that it is part of a consortium that has secured UKRI funding for a Designed For Ageing project, comes the news that it has secured more than £1.5m investment to help it further develop its technology across other domains, and grow its global market presence. The campaign has been bolstered following financial backing from institutional investors and more than 400 individuals.
The startup's software-enabled products, which are CE registered for the UK and EU markets, and FCC and FDA registered for the US market, transform mobility for people with visual impairments. Its Smart Cane uses a front-mounted ultrasonic sensor which detects obstacles and warns users with vibration feedback. The company has also developed the WeWALK Smartphone App, which pairs with the Smart Cane, giving users a voice assistant enabling them to discover and explore new spaces. It provides directions and navigation details, and improves access to public transport.
WeWALK’s product development progressed through a number of high-profile R&D partnerships with the likes of Microsoft and Imperial College London. The company has been producing its Smart Canes in Vestel, the largest electronics manufacturing facility in Europe.
.png)
Headquartered in London, WeWALK has developed close links with a number of leading UK institutions. Its advisory board includes Professor Washington Ochieng of Imperial College London and the RNIB’s (Royal National Institute of Blind People) Robin Spinks, a leading UK advocate for visually impaired individuals.
This latest investment round is aimed at helping WeWALK to scale its business in key global markets and establish new R&D partnerships to develop its technology to support other mobility-related functions. It will also use the funds to roll out a new subscription model for WeWALK users. This approach will ensure its Smart Cane will become more affordable to a wider global audience.
The company hopes to raise a further £500,000 in the investment round through equity crowdfunding where anyone can invest through the Crowdcube platform and become a WeWALK shareholder.
WeWALK, which is operating within a serviceable addressable global market valued at £2.3bn, is targeting 130,000 service users and £16m in revenues by 2
Co-founder & CPO Kürsat Ceylan is an award-winning innovator who has been blind from birth. He worked in the pharmaceutical industry and moved to the tech sector where he developed software products reaching more than 100,000 visually impaired people. Through his work, Kür?at was invited to address the UN’s Committee on the Rights of Persons with Disabilities.
Kürsat Ceylan said: “WeWALK’s products are transforming the lives of visually impaired people across the world by dramatically improving their mobility. We want to scale our business to reach a wider audience and further develop our technology so it can be used by other groups in society such as elderly people who also face mobility-related challenges.
“The significant additional investment from institutional investors and further financial support from more than 400 individual investors through our crowdfunding is contributing to these ambitions by helping us develop new partnerships in key markets, including the UK where we plan to grow our sales and R&D functions.
“We will also use funds to help the business migrate towards a subscription-based model. This approach will enable WeWALK to reduce its hardware costs making our Smart Cane more accessible to a wider global audience.”
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.
.jpg)
John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.
The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.
Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.
The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.
.jpg)
With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 21st July 2022
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
