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Fundraising success stories for early stage companies

By Linda Eziquiel

Mix coins and seed in clear bottle on trading graph with cityscape background,Business investment growth concept, 3D illustration

We looked at London based companies that have recently successfully raised seed funding! The good news is that there is a constant flow of funding into very young companies – albeit with a technology bias.

Companies with innovative ideas, strong management teams and good business plans position themselves for better funding success.

We wanted to get a flavour of what’s happening in the world of funding for seed level companies that are based in London. We found five recent funding success stories – we have summarised what they got, what they do and how long they have been going.

Labrador (internet of things)

We’d all like to sure we are getting the cheapest energy bill on the market, but even with the help of price comparison sites it can be a chore working out which supplier to go with and then sorting all the paperwork to change supplier. Labrador aims to solve this problem by paring with your smart meter and analysing your energy consumption data to automatically switch you to the best supplier based on your usage patterns. Labrador has recently secured £500K in new investment, making their total raised to date £2m. Labrador was started in 2013.

Source: Power Technology

StepLadder (alternative finance, proptech, fintech)

Just recently, peer-to-peer lending proptech startup, StepLadder, was in the news for raising £250K. They have a totally different approach to helping people save for and secure their deposit to buy a house. Their lending decisions are worked out using an algorithm that is akin to organising a lucky dip, so you could get your deposit quickly, especially if you are the ‘lucky type’. StepLadder was started in 2016.

Source: UKTN

Knowledge Officer (edtech)

Still in the tech sector and just a few days earlier, Knowledge Officer was in the news having raised £599K from a range of angel investors. Knowledge Officer was started in 2016. They have already developed an app and a core base of users even thought this is their first real slice of funding they have secured. They see the future as ‘shifting to discovery and recommendations more than search’. They want to apply that to helping you find a great learning experience in a field that fits your interests, even though you may not have realised such an opportunity existed.

Source: EU startups

Luther Systems Ltd (fintech)

Blockchain technology is increasingly being used to find solutions to all manner of business need. Luther Systems is using blockchain technology to help solve ‘large-scale business inefficiencies’. They are targeting big businesses and organisation that could benefit from having a scaleable, modular method to securely manage and improve their, often very complex, business processes. They have just raised £1.9m in equity funding.  Their modular blockchain system is called Firstminute. The company was established in 2016.

Source: Techcrunch

Feast It (caterers and internet platform)

If you’re organising an event or party or something much larger, you’ll probably need a great caterer and what better than a food vendor that has a reputation at street level! That’s where Feast It (Karamu Ltd) comes in as they have created a platform which allows customers to book hand-picked independent caterers from a list that includes street market and truck based food and drink vendors. They only started in 2016 but have already raised over £1m including their latest success in securing £680,000.

Source: Evening Express

There are of course funding successes for non-tech companies as well as well as companies located outside of London. It seems that a lot of the fast track seed companies in London that are enjoying fund raising successes are in the tech sectors. We may look at different sectors in a future article.

If you’re looking for funding to grow your business or help with your business strategy contact us at experts@lgbusinessadvisors.co.uk

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