Verv Scores a £6.5m Series A, Earthworm Sticks It to the Front of the Roll
Funding Snapshot
Verv, the brainchild of a Google‑mentored team, just wrapped up a Series A that landed over £6.5 million. The lead investor? The eco‑savvy fund Earthworm, which dropped a generous £5 million into Verv’s smart‑energy playground.
Who’s in the Ring?
- Earthworm – £5 m to kick off the next energy revolution.
- InnoEnergy – the well‑connected European sustainability engine.
- Crowdcube – crowd‑funding that feels like a roundtable of enthusiastic friends.
- Centrica – the energy giant that’s already an ally.
Why Earthworm’s Bite Matters
Earthworm’s pledge is more than a check‑on‑paper; it’s a nod to Verv’s aim to turn millions of homes greener. Their smart hubs deliver a live feed of appliance activity, cost, and cool carbon numbers, letting people slash bills and emissions by over 20%.
Verv’s Tech – A Data‑Bounty
Picture a device that streams up to five million data points per second—vaster than any smart meter. It pinpoints your fridge’s power push, your HVAC’s heat dance, and sends the owners a real‑time bill in the skin of your thumbs. That’s the kind of insight that nudges households toward greener habits.
Peer‑to‑Peer Energy: Bitcoin for Your Backyard
Verv’s blockchain‑based marketplace lets solar-stripin’ homeowners sell surplus juice straight to their neighbours. It’s a win‑win: you get the best price for your excess power, and neighbors get green energy without the hassle of a boilershop deal. The first live test? Late 2018, a London social‑housing block became the world’s first block‑chain energy swap hub.
Going Global with the Smart Hub
The new funds will be tabbed toward expanding Verv’s reach in Europe, the Middle East, and Asia. The company’s three‑phase smart hub is engineered to plug into almost any building—homes, offices, or even warehouses—so the carbon‑cutting tech keeps multiplying.
Another tease: the next-gen home control system is on the ramp, promising the next chapter in smart‑home energy management.
Backers Worth Their Weight in Cool
Established in 2015, Verv has now amassed over £10 million from investors like Innogy International Middle East and Scytale Ventures. Centrica, after a convertible loan of £1.9 m, swapped that for shares in this round, boosting confidence in Verv’s mission.
Google’s own Launchpad spotlight baton was thrown at Verv in 2017—hence the “mentored by Google” flag—and the company hasn’t even scratched the surface of the tech frontier.
Insiders Speak: Voices from the Vanguard
- Will Brocklebank (Earthworm Head of Projects & Partnerships) now sits on Verv’s board, noting the firm’s tech as a dazzling example of “enabling” energy.
- Mark Masterson (Google’s Head of Technology) toasted the ingenuity that led Verv from a concept to the UK’s first blockchain‑based energy swap.
- Alexander Goos (InnoEnergy Business Creation Manager) highlighted how Verv’s IP—seven AI and blockchain patents—could reshape markets as if it were magic.
What’s Next for Verv?
CEO Peter Davies sums it up: “We thrive when our investors tick the same box—the same vision and passion. Earthworm brings not just money but a massive industry network that turns a start‑up into a scale‑up story.” And we’re primed for a future where every household feels the sweet sting of a lower bill and a cleaner planet.
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