Funding Highlights - What Happened in March 2017?
Last month we reported that crowd funding has come of age. This was amply illustrated by the spectacular funding round by Monzo Bank on Crowdcube in March 2017. Monzo is just two years old - their USP - it’s a bank built for your smartphone: “Imagine being able to open a full bank account in 30 seconds from your phone…” Last year they raised £1m in just 96 seconds and their pitch this time, for £2.5m looks like being no less spectacular. Just a few days after launching the campaign they had pledges to invest in excess of £10m! But what else happened during the month? – We have pulled out a few interesting snippets.
YourWelcome – latest funding round £710 on Seedrs
YourWelcome has raised over a million since they started in 2015. Their latest funding round was with Seedrs, resulting in £710K in February 2017. They rent out touchscreen devices to AirBnB property owners’ on which they can record welcome videos, explain the features of their property and advertise local attractions for their guests etc. The table device is usually placed at the entrance of the building and alerts the host when guests have accessed it.
Sonalytic – from start-up to sell-up in less than a year
Techcrunch reported that Sonalytic was snapped up by Spotify in less than a year since its formation in April 2016. Sonalytice researches and develops state-of-the-art machine learning techniques for the identification, monitoring and discovery of music. Techcrunch said that "These features line up with services that Spotify offers, making Sonalytic a natural fit for the company." Sonalytic say “We are an international team with backgrounds in mathematics, physics and computer science, and we share a passion for pushing the boundaries of possibilities in audio technology.”
Notes Coffee - demonstrates there's always space for discerning coffee shops
It seems our appetite for coffee shops is insatiable - Cityam revealed that Notes coffee roasting, coffee shop and wine bar specialists netted a £600,000 loan from challenger bank OakNorth to open two new London branches, despite Brexit uncertainty. They do regular events - the next one is a Cheese and Wine Tasting on 3rd April 6-8 pm, at Notes Canary Wharf Crossrail, 24 Crossrail Place, E14 5AR with Bermann Wines and Mons Cheese Co.
Kevin McCloud of TV ‘Grand Designs’ fame proves happy housing is fun-dable
“HAB stands for Happiness Architecture Beauty and these are the values we hold dear.”
Insider media reported that HAB, the group of companies founded by Grand Designs presenter Kevin McCloud, has raised £2.4m through its crowdfunding mini bond, two-and-a-half times its original target.
Investment raised from the crowd fund will go to developing opportunities through HAB Land, sister company to HAB Housing. More than 280 people invested in HAB Land, which will now use the funds to develop a number of new site opportunities.
Budget 2017: startups and their backers react
This blog would not be complete without at least a sideways glance at what the Chancellor’s budget statement contained that will impact on start-ups and their backers – and who better to report on that than Beauhurst – providers of a platform that lets you access rich information on UK high-growth companies – read what they said here.
Are you ready to find out if you qualify or how much your R&D claims could be worth?