The Saudi Royal Family has invested in energy tech firm Pavegen.
The London firm, founded in 2009, has created tiles which harvest energy and data from footfall.
Founder and CEO Laurence Kemball-Cook revealed the news of the marquee investment and said it is now plotting its latest crowdfunding campaign.
Pavegen has raised almost £8m funding since foundation, with several rounds of crowdfunding – the last in 2023 – as well as seed funding in the early years and a 2020 Series A round.
“I founded Pavegen with a mission, to transform how our cities harness renewable energy and empower communities through the power of a human footstep,” Kemball-Cook wrote in an email.
“Fast forward to today – over 1b footsteps later – and we’re just getting started… we are delighted to announce that the Saudi Royal Family have recently become investors in Pavegen.
“Pavegen is entering a new chapter… the future will never be the same again.”
Kemball-Cook said Pavegen is now live in 45 countries, having generated over £12m revenue in exports alone, with over 300 installations and major traction in some of the world’s most iconic spaces.
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In 2024 it partnered with corporations like the $25bn Sports Boulevard Mega Project in Saudi Arabia, UEFA, Ford and Uber in the UK, Merritt Park and Purina in the US and Dubai World Trade Centre in UAE.
This year it is set to partner with Barclays to enter Wimbledon for the first time, alongside several other fresh collaborations.
“We’re making substantial progress across the Middle East, particularly in Saudi Arabia, and rapidly expanding our presence in Asia, Europe, and the US,” wrote Kemball-Cook.
“We’re also launching our most powerful product yet: Solar+, combining kinetic and solar to more than double our energy output. This represents a game-changing advancement in sustainable design and a significant enhancement in product capabilities.
“We’ve enhanced our core product with a new system that cuts materials by 30%, lowers carbon footprint, and reduces installation time, enabling faster, more affordable global deployments.
“Additionally, we’re integrating AI-powered engagement and insights into our platform – a bold step towards helping cities and brands measure, improve, and reward sustainable actions in real-time.
“These advancements will significantly boost our SaaS offering and accelerate our ARR growth.”
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