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Lightfoot secures Innovate UK loan

Date: 26 April 2018   |   Author: Sean Keywood

Telematics firm Lightfoot has secured a £1 million loan from government agency Innovate UK.

The money will be used to develop the firm's driver rewards platform, which encourages drivers to maintain a smoother style, increasing fuel efficiency and reducing costs.

The loan award is from Innovate UK's Innovation Loans programme, which allows companies to or low-interest loans on a competitive basis to scale up their proven new technologies and business models.

Lightfoot is developing its platform for a consumer launch; however, it says fleet users will also see benefits.

Lightfoot's head of innovation Dan Regan said: "The Innovate UK loan will bring a host of new benefits for the consumer market, but everything we develop for private motorists feeds across to further enhance our fleet offering.  

"This will include a considerably boosted driver rewards platforms, a new generation of hardware in-vehicle, and innovative new ways of interacting with the driver to help them get the most from their vehicle.  

"The loan will also fast track the introduction of things like new voice options and easier, quicker driver identification in-vehicle." 

Lightfoot CEO Mark Roberts (pictured) said: "We're proud to be the first recipient of an Innovate UK Innovation loan, and it comes at a hugely exciting period of growth and expansion for the company. 

"Lightfoot has already proven to be a huge success in the UK fleet market and this loan will help us launch the consumer proposition, scale the business and enter new countries."



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