#BehindTheRaise with Euclideon Holographics

Derek Van Tonder shares the story of Euclideon Holographics and the key learnings from taking it through multiple rounds of funding, including the importance of benchmarking your company for investors and building meaningful relationships:

Tell us about what got you into start ups: 

Euclideon Holographics was founded because we tried out traditional Virtual Reality helmets and we really didn’t like them – we hated the cord, the screens in front of our eyes were awful because we couldn’t see anything, and most importantly, they gave us motion sickness. So we decided to solve that problem by removing the screens in front of your eyes and moving them onto the walls around you to solve all these problems with VR, and Euclideon Holographics was born.

Why did you decide to raise investment?

Our products have been very successful and many customers even purchased them before they were properly finished (in beta) – we are using this success to prove to investors that their funds can make a good profit when we use investment money to set up warehouses and showrooms around the world. 95% of our customers have seen our holograms in person before committing to purchase, so it makes sense to put showrooms closer to our customers, and that requires investment capital. We are also using fundraising as a way to network with new partners. Many of our investors end up working with us in the business, for example by becoming a representative for our products in a far-flung region of the world that we normally would not easily be able to access. Since they are shareholders, they are passionate about our company and it works very well.

What is your top tip for anyone raising investment for the first time?

Be careful of scammers, using a service like Angel Investment Network greatly reduces the number of shady people you will have to deal with. Make sure that you understand your market very very well – investors don’t just want to know how much you could sell if only 1% of the market bought your products – they need better and more realistic estimates than that. Ideally, you should have proved that people want to buy your product/service before raising investment. Investors may love everything about your company and technology but could be scared away by the risk factor – you have to be absolutely transparent about risk with investors. If you have debts, disclose those. If you are at all cagey about disclosing financials, many investors will see this as a big red flag. The gold standard is to have an independent, 3rd party accountant sign off on a copy of your balance sheets before you raise capital. Every serious investor will ask for this, and rightly so. Investors also like you to be very clear about what’s in it for them – you should not give “pie in the sky” and overly optimistic projections and forecasts. Instead, try to find companies similar in size and scope to your own and use them as a benchmark for comparison purposes. For example, we use the company Tritium, they are literally in the same street as our HQ, with a similar number of employees, and they are also an Aussie technology manufacturer with their own factory. Because they are very similar we can show them to investors and talk about their great success story.

What attracted investors to your company?

Shareholders of Euclideon Holographics are interested in a long-term pre-IPO Intellectual Property play, they are investing with us because we have a lot of unique IP and patents, we have proven that customers want to buy our products, and we are offering new Hologram products not seen before that solve a lot of the problems with Virtual Reality. And we also support popular 3D simulation engines like Unreal and Unity. Manufacturing our products in Australia is also seen as a big advantage to our customers, particularly with regards to our military clients, Australia is seen as a “safe” and friendly country by military buyers. Australia is viewed favourably as a hi-tech and very stable Western democracy so that also helps us.

My biggest fundraising mistake was…

At first, only emailing investors and not touching base with them in other ways. You should reach out to them on LinkedIn, send text messages, phone them, everything possible – otherwise you will never know whether your important email got stuck in their spam/junk filter. The absolute gold standard is to have a Zoom call with every investor. Investors like to invest in people. You need to meet them somehow, ideally in person if you can.

Why did you choose to use Angel Investment Network?

AIN has consistently delivered quality investors to us over the years as we have expanded our operations. We now have an excellent shareholder list and many of our shareholders are actively involved in helping us distribute our products and find new opportunities and clients all over the world.

What has the funding enabled?

We use our funding for expansion and to fund R&D on new products. For example, our first foray onto AIN netted us $700,000 (AUD) of investment, which we subsequently used to refine and commercialise our Hologram Table product, which is now our 2nd most popular bestseller.

Keen to hear more?

Listen to Derek in the extra video for #BehindTheRaise:

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

BehindTheRaise with Paperclip

Rich Wooley is the CEO and founder of Paperclip, a challenger marketplace taking on eBay. Rich shares lessons from his fundraising in #BehindTheRaise: What’s the biggest thing he thinks investors look for? What would he do differently if he did it all again? And well, does AIN really work?

Tell us about what got you into start ups:

I’ve always had an entrepreneurial mindset – my first business was at school selling Big Red chewing gum that I imported from the US, it certainly made me more money than my paper round!

At university, my housemate, Alan, (later, co-founder) and I made good money importing clothes from the US and selling them on eBay, and we saw an opportunity there for a challenger marketplace to take on eBay’s monopoly. We shelved the idea at the time, and both went into our respective management consulting careers – but eventually I thought that if I didn’t do something entrepreneurial soon, I might never, so I took a career break and started attending startup events in London like AngelHack and London Startup Weekend. I pitched Paperclip, we came second place, and we got to work.

Why did you decide to raise investment?

Being a marketplace, we realized that we’d need to go for a few years without any discernible revenue, and so we sought investment to fund the runway. Not only this, but we wanted to get a strong network of investors onboard that could add value on the journey – introductions for commercial partnerships and to other investors, and so on.

Marketplaces are always tricky, and it can take a while until the critical mass of buyers and sellers and unit economics start to take shape. However, when they do get it right, they have the power to influence people’s everyday lives – which is something that excites me a lot. Platforms like Amazon, JustEat, Uber, Deliveroo, and Depop are a testament to that – they provide value to millions of people, and have made massive returns for their investors, but they were cash hungry at the start and required significant investment to get to that scale – we are no different in that regard.

What is your top tip for anyone raising investment for the first time?

It’s always tricky at the start.  Your personal network can help a lot at that time – my first investors were a friend from university, a family friend, and my old boss! But other than that, seek investors that add value in the right areas -speak with founders that have exited similar or complementary types of businesses.

Any government support such as grants can help a lot to get momentum going, and speaking to pre-seed funds that can match fund will help things significantly: if you have an offer on the table for match-funding (e.g if you raise £100k then the fund will match that with £100k), then it helps things along significantly.

I’d suggest not being too inflexible on your valuation, but be wary of adapting your investment terms to something you’re not comfortable with, such as giving away too much control or appointing directors that don’t share your vision, or that might become an issue later down the line. The right kind of investors can make your journey far smoother, the wrong type can make it hell.

What attracted investors to your company?

I think investors like the concept of what we’re trying to solve and the novel way that we are approaching it – it helps that the secondhand goods market is massive and also set to expand 500% over the next 5 years – and so the potential is huge. However, at the start, investors are mostly investing in the actual team – and having a strong team really helped with that.

We were fortunate enough to get some high profile investors onboard at seed stage, such as  David Buttress,  co-founder and former CEO of JustEat and Hayley Parsons, the founder and former CEO of GoCompare. Most people in the UK would have either seen or used their platforms, and so it added some credibility to our cause.

Rich Wooley, CEO, Paperclip


My biggest fundraising mistake was…

Probably the biggest fundraising mistake I made was not pushing back on some of the investment agreement terms in our first VC raise. There are a bunch of reporting, corporate governance and approval processes that I have to go through. For example, I need to gain approval for spending over £5,000 on something, or hiring someone with a salary of over £35,000. 

These terms ultimately do benefit and protect our shareholders, so they’re not all bad – but for the stage we’re at, they can be slightly onerous; they  can slow things down at times or take me valuable time to report.

Why did you choose to use Angel Investment Network?

Over the years, I had heard of Angel Investment Network, but I never wanted to pay for it!  Then one day at the Natwest Accelerator, two of the founders I was mentoring came over and told me they’d raised over £250k each on the platform, and so I signed up right away.

I’ve also tried other platforms, both UK and US focused, and have never had the same level of success on them. It’s clear to me that Angel Investment Network has the largest and most active pool of angel investors in the UK – perhaps in the world; I’ve met some incredible people and received investment from all over the world; Australia, Hong Kong, Singapore, South Africa – the list goes on.

What has the funding enabled?

Investment has made a huge difference to the talent we have brought onboard, and the build phase that we’re in. Some of our investors have made valuable introductions, and so it has had a massive impact on our business. Going forwards, I can see that the investor base that we have will be able to provide us even more value as we grow.

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

#StartUpBuzz

Here’s our pick of companies raising investment on Angel Investment Network at the moment. 

From launching podcasts, to helping you select the most appropriate emobility solution, or a modular sofa that will actually fit through the front door, these are the startups that are solving meaningful problems with capable teams, and a clear route to market. 

Auddy 

Whilst starting a podcast may seem deceptively easy, actually launching it successfully, building a user base, maintaining growth and monetising it, are a lot easier said than done. That’s where Auddy comes into help. 

Auddy is one of the UK’s leading podcast publishers. Using cutting-edge data and analytics, they make the business of podcasts hassle-free. They work with top creators to produce and market premium shows before distributing them to all major platforms. They then provide advertising and sponsorship sales, paying properly meaningful royalties back to the creators.

Controlling the end-to-end process means they can also produce private shows for corporate’s internal employees or leading branded content for a company’s content strategy. These are high margin jobs and provide a diversified revenue stream beyond pure consumer publishing.

Key Facts

Founder has numerous IPOs and exits, including for Virgin

B2B clients including Vodafone and Open University 

Acquired leading UK branded podcast publisher – Radio Wolfgang

‘Auddy has an incredible team behind it, driving a sophisticated business model in what is a rapidly expanding market space. We were hooked from the off and we think it’s an exciting opportunity for the network!’ – Sam Louis 

Find out more about Auddy here.

Electric Rider


In big cities, suddenly electric mobility solutions are appearing everywhere. Electric Rider is an online marketplace selling emobility solutions from ebikes to escooters, even electric unicycles. 

The trend for the electric revolution appears to be getting strong momentum, buoyed in part by London and other major cities introducing low emission zones.

Electric Rider makes it easy to find the most appropriate electric mobility solution for the user – with a ‘help me choose’ solution finder, as well as flexible payment options. 

Key Facts

The emobility market is forecast to grow at 20% year on year

Electric Rider achieved £1million gross revenue with 30% margin in first 18 months

Over 55 brands in stock and growing

‘Impossible to ignore what they have achieved in such a short space of time. Along with the current move towards electric transportation in cities it was a company that I really wanted to help raise.’ – Xavier Ballester

Find out more about Electric Rider here.

Cozmo

Ever ordered a sofa with a long lead time only to find it didn’t fit through the door? Or pulled a muscle in your back trying to lug a sofa up the stairs? Cozmo is a new type of sofa company, reinventing what sofa purchasing should look like – modular and delivered in a box. It’s also a sustainable solution, allowing easy changes to both configuration and also its design with changeable top covers.  

Key Facts

The emobility market is forecast to grow at 20% year on year

Electric Rider achieved £1million gross revenue with 30% margin in first 18 months

Over 55 brands in stock and growing

Find out more about Cozmo here.

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

#BehindTheRaise with Wedo

Wedo is a Neo-Bank set up for the freelance community by 5 times founder Indiana Gregg (Indy); in our latest #BehindTheRaise Indy shares her top tips for fundraising success:

Tell us about Wedo and how you came up with the idea

Wedo is the place to start or grow your online business: create live video and audio alleys, share content, take payments and send and receive money completely hassle-free.

I’m a 5x tech founder and have also run a digital media company where a lot of our gigs came from freelance sites. I had an exit five years ago and focused on learning everything there is to know about the freelance communities that were shooting up and getting tons of traction; so, I became a freelancer myself. It quickly occured to me that this rapidly growing piece of the global workforce would soon be in trouble. Freelancers pay to play. It’s not very cool. I couldn’t help but wonder if there was a more fair way to serve them with an ecosystem where they weren’t having as much as 20% of their earnings paid as commission fees. Wedo was the answer.

I started building a prototype at the beginning of COVID and by June, 2020, we had a team. The team bootstrapped for the first eight months and then I came onto the AIN to look for pre-seed investors at that point. We raised £515,000 on a £5M pre-money valuation early this year (2021) This allowed us to get regulatory coverage in the USA, UK and Europe to operate as a bank challenger and we built the SaaS technology MVP and began to private test users this spring. 

We are a community with tools that help create the network freelancers need to connect with clients – They can onboard new clients and connect with existing ones by creating their own Alleys (these are video and audio conference rooms where they can discuss with clients, share files, take instant payments, send and receive invoices and bank seamlessly). 

With Wedo, you can set up a payment link to your conference, consultation or subscription. The deposit goes directly into your Wedo account. You decide whether to use it to pay for something or to transfer it to another account.

Indiana Gregg, CEO, Wedo

Why did you decide to raise investment?

We raised investment in order to build the technology and acquire the partnerships and some of the tech rails we needed. We were also at a point where we needed to hire more people to fill skill sets we were short on. We are currently raising our Seed round again here on the AIN and it’s been epic! We’ve met a lot of amazing investors. We aim to close the round by the end of October. 

What is your top tip for anyone raising investment for the first time?

Don’t raise money until you have thought through your business model and can communicate what you are building/creating or selling very succinctly. If investors don’t understand what you are aiming to achieve, it means you aren’t communicating the problem you solve properly yet.

Practice with people in your surroundings to see how you can improve your pitch and ask experts their opinion of your model, you projections and your deck to refine and develop it so that when it’s time to present your plan to investors, you are confident and they are confident that you will be persistent and hit a home run for the company. Investors are on your side. They want you to succeed and if they say no, ask for feedback. Sometimes it’s just not a match; however, oftentimes their advice and feedback can be invaluable. 

What attracted investors to your company? 

Our team is brilliant, the timing is right for the market opportunity,and our technology and business model is a first. 

My biggest fundraising mistake was…

Oh boy. I  probably have a lot of these. Raising investment is a learning curve over many years. However, probably introducing an idea too early before it has been baked and refined can be a time waster. Ideas are just ideas. When you begin to execute your idea, it becomes more real and you have an entire research and discovery period to go through prior to asking other people to invest in it. You also have to be fully invested yourself. If you aren’t and it’s too early, don’t go out to raise. Make sure you can validate your idea during each step of the fundraising rounds and you have KPIs and targets that you will hit with the capital that you raise. 

Why did you choose to use Angel Investment Network?

I chose angel investment network because I’ve had great experience finding investors for my companies and other companies I’ve consulted in the past here on the AIN.

It’s a really big network and I love that you can search and really pinpoint investors who are most likely to be interested in the company you are building. There is an enormous spectrum of investors globally with varying interests and it’s a great way to connect. 

Our number 1 focus for Wedo for the year ahead is:

Our number one focus will be penetrating the market heavily, we’re going after small businesses and freelancers who open accounts and use our services. We’ll continue refining our tech into full product/market fit, and customer retention. Wash, rinse and repeat! If you’re reading this now, please join us!

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

#SixtySecondStartUp with Cancha

For this edition of #SixtySecondStartUp we have Jack Oswald, founder of Cancha, he shares how his experience as a professional tennis player led him to set up Cancha – unique tennis bags designed from the ground up:

  1. What does your company do?

Cancha is a customizable sports and travel bag brand. Our bags feature a unique modular design, which allows different accessories to be mounted and detached from each other in a matter of seconds, allowing users to tailor their bag to their favourite activities and daily routine

Cancha Bags are also made from an abrasion-resistant, high-tenacity nylon, and incorporate the latest advancements in textile manufacturing processes, such as laser-cut fabrics, heat-bonded zips and RF Welded construction. Cancha launched during the pandemic of 2020, and has since seen a strong uptake among sporting and outdoor enthusiasts looking for an innovative and durable way to travel with their gear.

Jack Oswald - Cancha
Jack Oswald, Founder of Cancha
  1. Why did you set up this company?

    As a professional tennis player traveling around the world for over a decade on the circuit, I became frustrated with the tennis and travel bags out there for sport and active-minded people. I saw the need for a better tennis bag; One that could adapt for the next trip or activity and durable enough to keep up with an active, travel-hungry lifestyle. 

However, I soon became aware of the wider demand for durable, highly customizable sports bags that could adapt to each individual’s daily routines.  So I teamed up with my friend, who is a world-class soft goods designer, to develop a modular system that would allow a backpack, tennis bag, wet-dry clothes bag and shoulder travel bag (our first range of products) to attach and detach with relative ease. 

This took much longer to develop than originally planned – our 6-month schedule starting in early 2018 ended up taking almost 3 years! We refined and refined the designs, tested them among top tennis players, travelers and anyone who would be willing to try the bags out. We went through over 50 prototypes, all painstakingly built by hand in our small workshop. Eventually, after countless hiccups along the way, we were confident that our bags were ready for the wide world. 

  1. How did you get your first customer? 

I remember very clearly; It was in November of last year. The first batch of bags had landed in the UK and we had just launched the site. A lovely lady in London was our first customer, who bought a bundle of the Backpack and the Wet-Dry Bag attachment. I couldn’t believe my eyes when the order confirmation appeared in my inbox. I think we have never packaged up an order so carefully!

However, the hunger for more sales very quickly grows, and the desire to improve the customer experience starts to becom a bit of an obsession – whether that’s improving our website and social media touchpoints, responding fast enough to customer queries and, of course, continually finding ways to innovate the products themselves!

  1. We knew we were onto something when? 

The first few sales are always a bit of a novelty, but when the consistency of sales kicks in, that’s when you start to believe you have got something. Retailers actually wanting to stock the bags was also a huge confidence booster for us. I remember sending out samples to stores and just being petrified that they would hate the design, or that they would simply say that they didn’t believe there was a market for our products. When we started to get into some stores and have their validity and backing behind our products, things really started to kick off for us. 

  1. Our business model: 

Our bags are currently manufactured in Asia and then shipped off to the UK from there, where we fulfil our orders internationally. We make a large part of our revenue through ecommerce sales on our online store, but partnering with both online and brick-and-mortar retailers has given us the stability to grow.. 

  1. Our most effective marketing channel has been: 

Media outreach. With eCommerce being a big part of our business, we have to mix a wide range of marketing channels into our strategy. However, being able to spread the word on the Story behind them brand, my background as a tennis player and the need we are filling, we have really been able to connect with our customers. I often get customers emailing after their order saying they heard me on some such podcast and the story alone swayed them to buy our products. It’s one of the most overjoying moments when you hear from people all over the world that they identify with our background, our mission and reason for being. This is why media outreach has been so successful for us, as it has allowed both Cancha and myself, as the founder, to get our message across in a sincere and personal way.

  1. The biggest mistake that I’ve made is:

Committing too early (financially and mentally) to a project. We launched our crowdfunding campaign in December of 2019, when our product wasn’t near enough to a  production-ready stage. My own desire to get Cancha’s offering out there made us rush our marketing strategy and meant that backers of our campaign had to wait substantially longer than forecast to receive their Cancha Bags. This is something I think that founders tend to struggle with in general; their passion, desire and determination to achieve their goals sometimes overtakes their company’s progress. While this characteristics is extremely useful, (crucial in fact), sometimes it can cause a company to pull the gun too soon, when it would have been more beneficial to build strength a little longer. 

  1. We think that there’s growth in this sector because:

Times are changing, and we’re changing with the times. Cancha is not just about designing innovative and sustainable soft a products for consumers. We’re also committed to creating a sustainable and highly technical manufacturing service for western athleisure brands. The reality is that shipping products 3,000+ miles from outsourced production or assembly sites in lower cost nations has been the go-to strategy for western brands for some time now. However, we are seeing a substantial shift in the business environment, both among customers and brands for closer proximity of manufacturing and more responsive business models. We want to be a leader in driving this trend, providing more responsible methods to drive innovation and customer experience in the textiles and soft goods industry. 

  1. We worked with AIN because:

We’re looking to bring some forward thinking, ambitious individuals into the project. We’re looking not just additional capital, but also for expertise in retail and production to help propel Cancha in this direction. AIN’s comprehensive network of investors across a wide range of backgrounds and industries made them the obvious choice to share our project.

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

Behind The Raise with Tooth

How often do you replace your toothbrush? Have you ever considered where it ends up or the environmental impact? Tooth is a subscription toothbrush service, looking to reduce waste. We caught up with cofounders Joshua Oates and Kiana Guyon to learn about their recent investment round.

Tell us about Tooth and how you came up with the idea

Over 7 years ago now an idea was born that still holds true today. ‘What if we made a toothbrush where you just change the head, like a razor blade and you keep the handle forever.?’ Out of this question Tooth was born.

The oral care industry is inherently very wasteful and has remained relatively unchanged for over 100 years. We’re here to change the norm and disrupt the market with simple product enhancements, design and smart materials. 

Tooth: the reusable toothbrush

Why did you decide to raise investment?

Like any startup, capital is needed to develop and grow the product and business. Physical products are capital heavy as it takes time to prototype, tool and manufacture the products. Having other minds on the project can lend some help and open up some pretty interesting doors moving forward. 

What is your top tip for anyone raising investment for the first time?

People invest in people.’ No one wants to invest in someone who is passionless, desperate and difficult. Sell yourself, sell the company, sell the product. You do it in that order you will raise funds. 

What attracted investors to your company?

Having a clear vision, product timeline and strong core team all played a part in closing deals across our round. 

The Tooth subscription box

My biggest fundraising mistake was…

Taking money from anyone. Make sure you actually get along and the collective vision is there. Be picky. This creates demand. You then supply that demand.

Why did you choose to use Angel Investment Network?

It provides a cost effective platform to get the project out into the ecosphere. The large network allows you to see if your idea is interesting or not to angel investors. 

Our number 1 focus for Eco Tooth for the year ahead is:
Proving our KPI’s (key performance indicators) is super important this year. Making sure we can hit our predicted acquisition costs, attrition rates etc will allow us to raise the next round of funding.

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

Behind The Raise with Porter

Gary Piazzon founded Porter after becoming frustrated finding a suitable hotel. He shares some of his key learnings from fundraising and his biggest mistake in this edition of #BehindTheRaise.

Tell us about Porter and how you came up with the idea

It was a nightmare, timely and stressful booking experience that led me to the idea of Porter; I visited one of the large online travel agents, entered my search criteria and was hit with a pretty intimidating 2,000+ results.

I wrongly assumed the hotels near the top of the list would be a great match for me. They were nowhere near where I wanted to stay and only appeared higher up as they were clearly paying a higher rate of commission.

That got me thinking, why see the results you’re not interested in?

Porter is designed to make booking a hotel simple and fun by learning about the elements that matter to users so it can assess the thousands of potential property options to help recommend the right places to stay.

In a nutshell, Porter simplifies hotel booking, by only recommending your best matches. 

Why did you decide to raise investment?

Raising investment was pretty much a necessity to really get things off the ground.

As we’re building a very technical platform leveraging various levels of machine learning and artificial intelligence, we needed to ensure we could attract the right talent, as well as pay the bills for hosting etc. so raising investment was really important from that perspective.

Beyond the technical aspects, it’s also been crucial in helping us raise some initial awareness of the site, and further we purposely targeted ‘smart money’ and ended up with a collection of very experienced, knowledgeable investors, all of whom have contributed advice, support and knowledge to the business. 

What is your top tip for anyone raising investment for the first time?

My top tip would be to ensure you have a clear story, and think about the traction you can show to demonstrate interest.

From a story point of view, I think it’s really important that when investors look at your pitch, or speak to you, they come away with a really clear understanding of what you’re trying to do, why you’re doing it, and how you’ll do it better than anyone else.

You should then be able to support this with some sort of traction that demonstrates people being interested. This could be in the form of users signing up to your pre-launch page, user engagement on your MVP, revenue numbers etc. 

What attracted investors to your company?

I’d say there were a few key things:

·        All of our investors resonated with the problem we’re trying to solve. They’d all experienced the frustration and wasted time of endlessly searching for the right place to stay when going on holiday. This immediately put us in a good position when discussing the business.

·        Secondly they recognised that there’s an enormous opportunity to go after, and the market has proven itself capable of supporting numerous large players. Globally, the online travel agent market is worth c£440bn, but in the UK alone, the market is worth around £35bn. That means, even if we were to capture 1% of the market, we’d be achieving £350m of revenue.

·        The final thing that attracted investors to our company was our strong founding team, and the interest we’d demonstrated through our pre-launch page. We built an initial team with experience spanning Development, UX, Product and Marketing and built a pre-launch waitlist of over 3,000 users. The combination of these two points gave our investors the confidence that we were the right team to try and tackle the problem. 

My biggest fundraising mistake was…

Initially failing to adapt pitches and conversations for my audience. I quickly learnt that different types of investors were looking for different information from our discussions, with a big difference between angels who were much more interested in the vision and team, versus VCs who were much more focused on the quantitative side of things. 

Why did you choose to use Angel Investment Network?

I was actually recommended to AIN from a fellow founder who has previously raised a number of rounds through the platform.

AIN was a no-brainer thanks to its ability to connect us with such a large number of investors. Not only did using AIN help us successfully close our pre-seed round, but it also helped us meet some really interesting industry experts.  

What is the main focus for Porter for the year ahead?

We’ve actually recently started raising our next round of funding to allow us to accelerate product development, grow our team and reach more people.

This is a really exciting time for Porter. As travel restrictions start to ease, we’re already starting to see an uplift in people wanting to travel. Our focus now is ensuring we’re best placed to help as many users as possible discover and book their best matched trips. 

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.

#StartUpBuzz


Each month our team selects some of the companies raising on Angel Investment Network that really stand out, as part of our #StartUpBuzz feature.

This month’s picks includes: Smart Container Co – real time tracking for beer kegs, Bx Technologies, a platform facilitating carbon offsetting by connecting corporates with farms, and ARQ, an investment platform for personalised wealth management using AI.

Smart Container Co

Enabling Transparency and a net-zero draught beer supply chain.

Smart Container Co turns traditional kegs into ‘smart’ containers, so that breweries, distributors and pubs can monitor the state of the beer inside, by combining a small waterproof IOT device connected to each keg (a KEGTRACKER), with their BEVEREDGE software.

It means that relevant parties can track the location, volume, temperature and motion for the liquid inside, reducing the risk of wasted stock, helping obtain more accurate shipping information, and gaining granular information about which product is being consumed where and when.

– UK patent pending 
– Chairman with 30 years experience including SAB Miller
– Piloting technology with Brewdog.

Sam Louis, Head of Consultancy, Angel Investment Network shared why he is most impressed by Smart Container Co:

“We’ve known the Smart Container team for a while now and have been incredibly impressed with their progress. What we like is that they have a product that integrates smoothly into an exceptionally large existing market, giving significant opportunity for fast scale.

Since we first spoke with them, they’ve built strong relationships with some of the largest brewers and keg owners in the world, all of which have approached them cold. The timing is also very good – the pandemic has meant pubs and bars have become increasingly open to technology, something that was previously a hurdle, and many breweries have seen strong profits from retail sales.

All in all, it sets the company in a very strong position going forward and we’re excited to see where they go next”.

Find about more about Smart Container Co here.

Bx Technologies  

Helping farms prove carbon emissions and offsetting – connecting farm to corporates.

Farmers are incentivised to maximise crop yields, but are rarely accountable for their carbon footprint. However, there is enormous interest in carbon offsetting from corporates to help them meet their ESG goals. 

Bx Technologies is the first two sided marketplace that connects corporations with farms and agriculture, reversing climate change through carbon offsetting and economic service investment. 

Bx Technologies use a farm management SAAS system with a trading platform powered by blockchain to create a carbon credit investing platform, allowing farmers to see both their carbon position and the profitability of their orchard. At the same time, Bx offers Ecosystem Service Investments for corporates, securing a long term supply of carbon offset tokens. 

– 1st SAAS client signed – paying $200k per year. 
– Expected to hit profitability by March ‘22
– Pipeline of over 12k hectares established 

In terms of what excites him about Bx, Sam Louis explains:

“We were drawn to Bx Technologies for a number of reasons, the first of which was the boldness of their mission – remove 500m tons of carbon from the atmosphere per year. They’re operating in an exceptionally important and exciting vertical, with the opportunity to make an incredible impact on the planet as well creating massive growth potential.

They’ve tied these lofty aims to a strong underlying business model, with profitability within sight, and they aren’t expecting any altruism to make their business work. They’ve aligned the incentives of all their stakeholders, making it genuinely robust model. All in all, it’s the type of business we love – exciting, impactful and pragmatic.”

Find out more about  BxTechnologies here

ARQ 

A wealth management app using AI personalised insights and comparisons. 

 ARQ is an investment platform that creates a personalised wealth management experience using AI and deep science. 

The intelligent tools rank your investments performance using huge quantities of data and gives insights that can be used to improve your portfolio. ARQ are making tools that are only available to the super rich to more mainstream investors. 

– A team with over 100+ years experience in financial services 

– ARQ are offering white label services for wealth managers 

– In house tech team behind leading fintech apps.

Xavier Ballester, Director of Angel Investment Network’s Brokerage Division shares why he is particularly impressed with ARQ.

“What I love about Arq is that I have this very issue: an Excel sheet with my various investments that doesn’t really give much insight after I have made my initial decision to invest. The beauty of this platform is that I can see my net worth and how my money is working for me and I imagine it will be a huge hit with financial advisors too.” 

Find out more about ARQ here.

Keen to discover other startups?

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Matching Diverse Talent With Fast Growing Startups

At Angel Investment Network, we strive to partner with pioneering organisations that support startups in ecosystems around the world, Silicon Roundabout have a mission to help get more young people into work at exciting startups, whilst helping unblocking some of the challenges in hiring that startups incur. 

Franceso Perticariari, Managing Partner of Silicon Partner Ventures explains more in the guest blog post below:

At Silicon Roundabout we are working with the UK Government to help youngsters from all backgrounds and who are eager to break into the startup industry to get their feet off the ground and venture into their dream career.

As part of the programme, we help companies by offering a diverse pool of junior staff, aged 16-24, at no cost for 6 months, whilst helping these candidates gain work experience, so they can get their foot in the door in the tech world.

Our mission is to help increase diversity in tech by being the pathway for young people from all walks of life and varying backgrounds to find work with cool tech startups and develop the skills needed to build a career in today’s digital market.

We would all like to see an exciting, diverse tech industry! 🙌

Here are the jobs we currently train for:


– Junior Marketing Executive

– Junior Business Developer

– Office Executive

– Junior Graphic Design and Video Editing

– Junior Programmer

– Junior Bookkeeper

– Junior Project Manager

– Junior Data Analyst

Business qualifying will be able to apply for and hire candidates through our new, easy to use, platform and receive 6 months worth of wages for them! This includes NI & minimum employer contributions.

What happens at the end of the 6 month placement? Businesses have the opportunity (but not the obligation) to offer the junior employee a job at their company.

We already have 300+ employers on board and have successfully delivered the scheme to help 100+ youngsters with little to no experience and from all backgrounds, gender, and beliefs get training and join these employers. In fact, we’ve recently hired four junior members of staff ourselves who went through this very same process and training, which we designed as startup founders ourselves for startup founders. So far everyone is enthusiastic about the results and we really think this can have a profound impact for both companies and people.

Startups can sign up to Silicon Roundabout’s here .

The T&CS:

Companies will need to pay these junior employees through their own payroll. We will then refund them using the Government funding after only 4-6 weeks from each payroll paid. No claiming needed. As long as the candidates are paid via the company’s payroll, We will automatically receive funds from the Government and transfer them over to them.

During the first month of our 6 month programme, candidates will be trained through our top digital bootcamps, which are also funded through the scheme.

#SixtySecond StartUp with Telbee


Nicholas Phair shares why he thinks online voice messaging is the future in this month’s #SixtySecondStartUp.

  1. What does your company do?

Online voice messaging. We help businesses build trust with their audiences using the most powerful tool they have… their voices. Our online voice recorders can be added to websites, workflows, social media and more, and used in online and offline campaigns to hear from customers, followers and fans and engage in two way asynchronous voice conversations. 

  1. Why did you set up this company?

    To go back to basics. Voice has always communicated far more than typed text alone – emotion, emphasis, connection – and we saw an opportunity to bring the same ease and utility of voice messaging found in consumer apps such as WhatsApp and FB Messenger to help businesses better engage with their own customers.
  1. How did you get your first customer? 

By asking them to pay! It seems like an obvious point but it’s a lot harder than you think. Believing in your product means putting a price tag on it, and asking people to pay. Thankfully our first customer, a prominent podcaster in the US, saw the value immediately.

  1. We knew we were onto something when? 

… we received this early testimonial: “I’m just massively impressed with this entire thing. I’m kind of shocked that it doesn’t really exist to this level, and we can see this being extraordinarily helpful for us.” 

Reading these words, after months of hard slogging in product and planning was golden. When our next 10 customers signed up organically and mirrored the above, we knew that if we kept going we’d succeed.

  1. Our business model: 


Freemium self-serve SaaS with consultative sales to the enterprise. In short: people sign up free on www.telbee.io to experience what voice messaging can do for them and their businesses. We limit the amount of voice messages that can be sent and received to 60 minutes per month and the service remains free (forever) until you decide you need more features, or want unlimited messaging minutes. And for larger businesses and enterprises we offer custom white labelled solutions and integrations specific to their needs. 

  1. Our most effective marketing channel has been: 

Hands down it’s been word of mouth – which shouldn’t be a surprise since we’re all about speaking and listening! 

  1. What we look for when recruiting:

We ask why they want to work with us, and listen keenly to the answer. When the whys are strong enough the hows take care of themselves – or so the famous saying goes. We look for people that want to build something truly unique and grow personally and professionally with the business. 

  1. The biggest mistake that I’ve made is:

Putting the cart before the horse, and investing in sales and marketing capabilities before breaching that elusive threshold of comfort in finding product/market fit – and while that threshold keeps shifting, mistakes keep coming, but ultimately they are there to make us grow! 

  1. We think that there’s growth in this sector because:


Our voice is what makes us human – and in recent times the rise of automation, artificial intelligence, and lockdown-inducing pathogens, have highlighted the importance of building and cultivating real human relationships. We’ve seen an explosion in voice applications across the board, from podcasts, to voice assistance to new types of short and long form voice-based social media. Whilst we are still in the exploratory stage of this nascent sector, what is certain is that businesses everywhere are beginning to see the trust-building benefits of asynchronous voice communication for sales, support and retention. This is only the beginning – and there is so much to be excited about. 

  1. We worked with AIN because:

We worked with AIN because they gave us access to investors globally. As a UK company but with a product relevant worldwide, we knew that part of what we wanted from investors was to extend our market reach beyond our existing network. AIN allowed us to speak with investors from the US and Asia as well as the UK.

Keen to hear more?

If you would like to see what other companies are up to on Angel Investment Network, or are interested in raising funding yourself, you can find your local network here.