Wheel and tyre safety business Wheely Safe Ltd (WSL), based in Burntwood, Staffordshire, has secured a £500,000 investment from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners (Maven).
Wheely Safe Ltd, which helps to prevent wheel loss and tyre underinflation, will use the funding to grow its national presence and scale up the business. Its key products protect lorries and large commercial vehicles from wheel loss, which is a major safety problem in the UK, where approximately 150 to 400 wheel-detachments occur annually.
Wheely Safe offers services to its commercial clients with tyre pressure and wheel hub temperature monitors to reduce the estimated fuel waste of up to £700 million, which is lost each year in the UK due to underinflated tyres. Wheely Safe’s solutions support businesses in mitigating these risks, reducing the risk to drivers, and lowering unexpected costs.
