Riversimple Crowdfunding Success

10 April 2017 | by CDN Team

Welsh company Riversimple, makers of the Chris Reitz-designed and hydrogen-powered Rasa, has just completed a round of crowdfunding which brought in an impressive £1,138,000, comfortably exceeding their £1m target.

The lightweight Rasa, which we have covered extensively right from its early prototype day here, here and here (subscribers only, like all of our archive content), is based around an innovative ownership model where drivers subscribe rather than own the car outright – an idea that has led to some fascinating design challenges and solutions.

Riversimple founder Hugo Spowers said: “I am delighted that we have not only passed our first tranche target of £1m, but the interest was so keen that we exceeded that figure. This is down to a growing demand for low emission personal transport and to the efforts of our team, because the people that work here make this company worth investing in.

“This very definite endorsement demonstrates people’s growing desire to be able to travel in a sustainable way and to start to address the catastrophic effects of pollution and global warming, while losing none of the joy of driving a responsive, beautifully-crafted car.”

Hugo Spowers With Rasa Credit Oxford University 1280X867

Riversimple founder Hugo Spowers (all pics: Oxford University)