Former Dyson boss helping drive forward car tech firm

From left: Ned Dorbin (BGF Investor and new Lightfoot board member), Martin McCourt (investor and new Lightfoot non-executive Chairman), Mark Roberts (Lightfoot founder and CEO) and Edwin Davies (BGF Investor)

The former boss of Dyson has joined the board of pioneering Devon tech firm Lightfoot.

Martin McCourt was at the helm of Dyson for 15 years, taking it from a single product to profits of more than £300million and selling to 60 countries worldwide.

Now, he has given Lightfoot financial backing and become non-executive Chairman.

He said that the firm which makes in-car technology dubbed ‘fitbit for cars’,can reach the same heights as Dyson.

He said: “No body else can do what Lightfoot and this product does and with that product and quality, who knows what Lightfoot can achieve, I think they are going to be massively successful.”

Lightfoot and its sister business Ashwood Electric Motors has moved into new premises at Innovation Valley in Chudleigh as part of expansion plans.

It has secured £3.2million of BGF investment to bring its connected car technology to consumers and more fleet businesses.

Ned Dorbin of BGF has also joined the board as part of its plans to scale up its consumer proposition and driver rewards offering.

Lightfoot’s in-car technology enables drivers to monetise their everyday driving with prizes, discounts and rewards in recognition of their smooth driving style.

Lightfoot drivers have access to a range of exclusive discounts on insurance, dining, high-street shopping, and holidays.

Previous winners have turned their good driving into trips to Paris, Sonos speakers, a year’s supply of pies and even meeting and racing against F1 world champion, Nigel Mansell.

It was launched in 2013 by entrepreneur Mark Roberts.

He said: “So far, we’ve created a community of Lightfoot drivers who are earning better deals for better driving – now, we’re excited to grow this with more like-minded motorists who believe good driving deserves rewarding.

“We believe that now is the right time to accelerate our expansion by bringing on board more people and increasing our engineering and sales capacity. We’re delighted to be embarking on this new stage with Martin and with the support and funding from BGF as our new minority partner.”

Lightfoot has successfully disrupted the fleet sector by focusing on rewarding good driving rather than the traditional method of penalising bad driving. More than 20,000 drivers use Lightfoot including Virgin Media, Dixons Carphone and Dyno Rod. The company has now expanded with a consumer product for private motorists and it has plans to expand globally .

The BGF investment puts further weight behind Lightfoot’s global aspirations and UK consumer launch. BGF’s funding will be used to drive growth in Lightfoot’s fleet business, its expansion into the consumer market and the continued recruitment.

Having already doubled their headcount in 2018, Lightfoot plans to do the same again by the end of 2019.

Ned Dorbin, BGF investor and new Board member of Lightfoot said: “Lightfoot is a vibrant, smart and ambitious business with a first-class management team. After five years of operation, they have established a strong reputation in the market and developed a clear strategy for growth. We’re pleased to be backing another fantastic business in the South West.”

Martin McCourt, new investor, Lightfoot Chairman and former CEO at Dyson said: “Lightfoot has top class technology and engineering capabilities, the brand is fresh and approachable and when you walk into Lightfoot HQ you hit a wall of energy from a noisy bunch who are passionate about the benefits their product offers the planet. The parallels to my past are abundant – proud British engineering, disruptive technology and a team who can deliver.”

BGF is the most active investor for entrepreneurs and growing businesses in the UK. The South West team, based in Bristol, have recently completed investments into Seasalt, Hydrock, Molson and Plantforce.

The investment into Lightfoot was led for BGF by Ned Dorbin, Edwin Davies and James Skade.