Lights out
at ARC
Arc Vehicle Ltd., the company behind the £90K Arc Vehicle project has gone into administration just months after raising £950K through Crowdcube.
Owners of the company say that they have been let down by a number of large investors promising funds that did not materialise prior to the Crowdcube fundraising effort. The Crowdcube funding was cancelled before the funds were taken from the 1000 investors that pledged money.