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Successfully funded
overfunded
Magway
179%
Raised
£1,344,460
Investors
2014
Target
£750,000
Equity
5.64%
Pre-money valuation
£22,500,000

Magway's game-changing sustainable transport solution moves goods through small pipes, aiming to address the explosive growth in online shopping. With int'l patents, it's recognised as a Top100 Global Startup and won UK grant funding. Magway is confident this is a high-impact investment opportunity.

  • Sustainable transport solution aiming to improve air quality & congestion
  • Recognised as a top 100 Global Startup. Winner of Innovate UK grant
  • Planned initial revenue opportunity from short routes around airports
  • Agreement with leading engineering firm  to scope implementation

Idea

The explosive growth in online shopping has outpaced development of delivery methods. A change is urgently needed to address the negative environmental impact from the ever increasing volume of goods vehicles.

Combining tried & tested technology and its own international patents, Magway has developed a sustainable solution with impact.

The vehicles fit in small-diameter pipes. It's been designed to improve air quality and congestion and plans to require low capital investment. Furthermore it is secure, independent of weather and driver error, and aims to offer considerable savings compared to current modes of transport.

Magway's vehicles will be powered by linear motors, which are highly reliable as they contain no moving parts within the drivetrain.

Magway plans to generate revenues by:

1. providing secure goods handling solutions for airports

2. transforming delivery in urban centres in the UK

3. expanding internationally.

Magway are in senior level discussions with online retailers, logistics companies & central/local governments.

Magway has already raised over £1m in seed and grant funding to develop integrated drive technology and two demonstrator tracks at its test facility in North Wembley. These additional funds, potentially supplemented by further grants, will be used to accelerate development, build the team & register further patents.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Magway has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.