StartUpBuzz



At AIN, we celebrate connecting investors to back the great businesses of tomorrow, whatever they do. With this in mind, our latest round up includes a new form of property marketplace, a platform using AI to reinterpret education and a company making new types of soup!

Soupologie

Soupologie

Whilst you may think there isn’t much to differentiate soup, Soupologie would beg to differ. Soupologie makes award winning soups and ready meals that are driving a number of innovations including: the world’s first ‘5 a day soup’ and ‘first free from the 14 main allergens soup’. 

Capitalising on the plant based movement, the company has achieved strong growth and has even released two cookbooks. With an exit focused management team and strong revenue growth, the company is on a fantastic path.

Key Facts

– On track for £3.2m revenue in Y/E May 22

– Products sold at Waitrose, Tesco, Ocado and leading supermarkets 

– Over 21k+ followers on social media  

“Soupologie have steadily built a strong business core around an innovative product range. Alongside executing the fundamentals of the business brilliantly, they amplify the brand exceptionally well through wide reaching media campaigns and an enviable following. The combination is powerful and we knew it was something that our network would be keen to see” Sam Louis. 

Find out more about Soupologie here.

Vesta

Vesta

Vesta is a marketplace for buying and selling rental property, and has sold over £50 million of property since it’s launch in 2018. 

It’s the leading marketplace of it’s kind covering buy-to-let, student accommodation, and portfolio properties for example. The properties often come with a tenant in place – if you buy a property with a tenant in place, the tenant is happy as they don’t need to find somewhere else to live, and the buyer is happy as they have an immediate rental income. 

Key Facts

– The rental market is expected to be £1.7 billion by 2025 

– Vesta has a growing pipeline currently worth £100 million.

– Revenue currently > £20k a month

“This is a space that has been of interest to me for some time and Vesta clearly sets out what the investment options and how much I can hope to generate from the moment I buy the property” Xavier Ballester.

Find out more about Vesta here.

Habitat Learn 

Habitat Learn

Habitat Learn is an ecosystem of products designed to remove the barriers of learning. With the ethos that ‘when online learning works better for all students; all students work better.’

Habitat Learns comprises a suite of products easily integrating into existing education technology. This includes: 

– Video conferencing software, designed specifically for education, as well as providing high quality live stream content, there is AI captioning and translation, and digital watermarks to safeguard IP. 

– Advanced analytics including everything from live recording, invoicing and student attendance records

– An option to get notetakers to take notes remotely. 

Key Facts: 

– Projecting £3m revenue in 2021, (£600k: 2020)

-185 customers (universities and colleges) including Harvard, Yale and Cornell

– Experienced team founding multiple successful startups 

“With lockdown Edtech has seen a real surge but I also looked back to my uni days where I spent most lectures frantically scribbling and missing half of what was said… Oh to have had Habitat Learn!” Xavier Ballester. 

Find out more about Habitat Learn 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.

#SixtySecondStartUp with Alpaca Coffee

In this week’s #SixtySecondStartUp we catch up with Alpaca Coffee who are making ‘better coffee for you and the planet’:

  1. What does Alpaca Coffee do?

Alpaca Coffee looks to bring better coffee for you and the planet. We are working towards being UK’s first fully sustainable coffee brand by promoting sustainability at every touchpoint:

Ethically-Sourced Specialty Coffee: Traceable sources to support family businesses that adhere to international standards on sustainability, better pricing, and quality

Zero Waste Roasting: Roasted via circular technology with biofuel instead of fossil fuel 

100% Plastic Free & Compostable: 100% plastic-free, from our labels and our bags, all the way to our shipping boxes and compostable tape.

Offsetting Our Carbon Footprint: For every 10 bags of coffee sold, Alpaca Coffee will plant one tree in the Amazon Rainforest.

  1. Why did you set up Alpaca Coffee?

I fell in love with specialty coffee during a trip to South America, but soon became aware of the negative environmental impact of the coffee industry. Due to this, we decided early on to become the new industry standard and to put sustainability at the core of what we do, making quality and sustainable coffee accessible for everyone. 

  1. How did you get your first customer? 

We validated our idea with a Kickstarter campaign. The featured by Kickstarter and our >200% oversubscription jump started our initial customer base and we are fortunate that a lot of the customers from then have stayed with us since then. Despite the fact that we have grown since then, I will never forget the moment my best friends tried our coffee and their amazed look. 

Alpaca Coffee

  1. We knew we were onto something when? 

Kickstarter was a start, but when we were featured by the UK Government as part of the SMB Climate Hub, among other publications such as Goodfind and Wherefrom, we knew we were onto something. 

  1. Our business model: 

B2C with a focus on e-commerce. We are rapidly expanding into the retail and B2B space so hit us up for a chat 😉

  1. Our most effective marketing channel has been: 

We are currently organic-heavy with our marketing, and so far has offseted >1,300,000 grams of carbon with >3000 bags of coffee sold. Social media has brought in great ROI, from word-of-mouth through user-generated content to collaborations with brands with similar philosophies. The team is working hard to further our presence by strengthening our branding and unboxing experiences. Stay tuned for our launch in December 🔥.

  1. What we look for when recruiting:

We look for people who share our values in sustainability and understand our mission. Being a challenger brand, we want to recruit fearless, passionate people. Diverse backgrounds, perspectives, talents, and ideas are important to us and we are driven forward by this diversity.

Coffee?

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

Saying yes to too many things. I’ve learnt that it’s important to approach any part of our business with a clear goal and understanding of the return on investment. We now approach anything we do together as a team with a clear understanding of how it fits with our mission and vision, and how it drives the business forward.

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

We are part of the “fourth wave of coffee”. As one of the most consumed drinks in the world, the quality of coffee as well as its impact on the environment and society, has become increasingly important to people around the world. As a specialty coffee company with sustainability at its core, we hope to become the new industry standard and push for better coffee for you and the planet. 

  1. We worked with AIN because:

AIN democratises angel investment and offers an unprecedented access to a supporting ecosystem and community of entrepreneurs and investors. This helps level the playing field and empowers entrepreneurs like us to 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.

Emerging from the pandemic – Startup sentiment in the UK and USA

Angel Investment Network, the world’s largest angel investment platform, surveyed the views of startups in the USA and UK to see how they have responded more than a year and a half after the pandemic first hit. This involved interviews with 1,205 startups in the USA and 667 in the UK. The key findings in the overall report we have published are:

1) Confidence returning
Similar numbers in both territories are now positive about the next 12 months. In the USA 76% of respondents are now confident about the next year, with 72% confident in the UK. However more US startups are very optimistic about the future, 52% against 42% in the UK. This could of course be down to a naturally more upbeat mindset but the research also reveals some particular challenges in the UK – for example the impact of Brexit. Meanwhile 70% of respondents in the USA are confident about the country retaining its status as a ‘startup hub’, versus 65% in the UK.

2) Networking and bootstrapping have been ways of mitigating stalled investment
62% of US startups have seen growth negatively impacted with 59% in the UK negatively impacted. The research also reveals the similar approach to mitigating the impact of stalled investment. The top strategy adopted in both countries was focusing more on networking. Other strategies adopted included delaying launch plans, holding back on marketing and hiring and  bootstrapping businesses as far as possible..

3) Raising investment is biggest challenge goingforward
Raising investment remains the biggest challenge going forward and there is a firm belief in both countries that government has a key role in making the conditions more favourable through tax relief. The report also looked at the biggest bugbears for startup founders. Number one in both countries was investors demanding too much of a stake in the business. Time consuming due diligence was also a pressing concern as were very slow rejections.

As we look forward, startups in the US and UK can be the engine room of economic recovery in both countries – nurturing their growth is vital.

Here is the full report

#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.

Majority of US startups very optimistic about the next 12 months

A majority of US startups (52%) are now ‘very optimistic’ about the next 12 months, despite 62% seeing business growth negatively impacted by the pandemic. This was a key finding of a new study of US startup sentiment 18 months after the start of the pandemic, by Angel Investment Network (AIN). The study of 1,205 US based startups found 76% expressed optimism overall with 19% quite optimistic and 52% very optimistic, versus just 24% who were pessimistic. It followed on from a similar survey we conducted of UK startup sentiment last month.

The results show the extent to which confidence has returned to early stage businesses Stateside, who are emerging strongly from the downturn. Of the 62% of respondents who revealed they had been negatively impacted by COVID, 37% had been ‘very negatively impacted’. Meanwhile 63% of those who had been planning to raise funds said they had delayed a raise as a result of COVID.

Top strategies to mitigate the impact of stalled fundraising were: Focusing more on networking, favoured by 46% of respondents, holding off launch plans (38%) and bootstrapping instead (32%), with a similar number delaying marketing.

Entrepreneurs were also asked what their biggest challenges were going forward. The top result given was raising investment (84%), hiring/recruiting the right talent (22%) and product development (22%). Ongoing COVID issues were a problem for 13% of those polled. 

US startups also believe more Government action is needed to encourage investment and help startups flourish. 57% favour making tax relief more generous to boost angel investment, 32% making R&D tax relief more generous and 22% lowering corporation tax. 70% of respondents are confident the US will retain its place as a startup hub.

AIN has seen surging growth on its platform with connections between entrepreneurs and investors up by 23% since the start of the year. Meanwhile revenues have increased by 40% to a new record, indicating the huge pent up demand from startups now seeking funding. 

According to Mike Lebus, founder of AIN: “It is encouraging to see how US startups have shown their mettle to ride out this really difficult period and emerge battle tested and with high levels of confidence. Many have been negatively impacted but have used their time wisely to build up their pipeline of contacts and bootstrap their businesses as far as they can go. RaIsing investment remains the biggest challenge going forward and as the world’s largest angel investment platform, we have been encouraged by seeing a record number of connections between investors and startups.” 

How did you respond to the pandemic?

  1. Focused more on networking: 46%
  2. Held Off launch plans: 38%
  3. Bootstrapped instead: 32%
  4. Delayed marketing: 32%
  5. Held off making hires: 27%
  6. Had to let staff go: 20%
  7. Relied on business loan: 19%
  8. Pulled back from R&D: 12%

What could the Government do to help?

  1. Make tax relief more generous to boost angel investment: 57%
  2. Make R&D tax relief more generous: 32%
  3. Lower corporation tax: 22%
  4. Offer more clarity on COVID restrictions: 14%
  5. Make it easier to provide VISAs for recruiting the right talent: 13%

What are your biggest challenges going forward?

  1. Raising investment: 84%
  2. Hiring/recruiting the right talent: 22%
  3. Product development: 22%
  4. Ongoing COVID issues: 13%
  5. Consumer sentiment: 12%

#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?

If you would like to see what other companies are up to on Angel Investment Network you can find them through your local network here.

Behind the Raise with eleXsys Energy

Richard Romanowski is co-founder and Executive Director of eleXsys Energy. eleXsys has developed a unique, international award-winning, enabling technology that will drive the transition of global energy grids to a clean energy future.

Tell us about eleXsys and how you came up with the idea?
My co-founder, Dr. Bevan Holcombe, was a senior engineer at an Australian distribution utility with 30 years’ experience and was working on how to decarbonise the local suburban grid.  I was a cleantech angel investor, looking for fabulous ideas.

The biggest issue to local decarbonisation is that the grid was designed as a one way grid. Bevan was trying to find a way to solve this problem, that is, the very limited grid hosting capacity of renewables due to the one-way grid design. He could not find a solution anywhere so in 2012 we decided to team up and started a company now called eleXsys Energy to solve this problem.

eleXsys in simple terms turns the one-way grid into a two-way grid in a cost effective manner enabling a huge increase in local renewables that the grid can host or accommodate in each suburb.

When we started eleXsys, Bevan and I had a vision that discovering a way to turn the one way grid into a two-way grid would be our contribution to saving the Great Barrier Reef by speeding up global distribution grid decarbonisation.

Over the last 9 years eleXsys developed a unique, international award-winning, enabling technology that will drive the transition of global energy grids to a clean energy future.

Why did you decide to raise investment?
The co-founders, Bevan and Richard, are the initial high net worth investors.  We invested over $7.5 M USD of our own money.  Then some friends and close associates also invested almost another $4.0 M USD.  We had developed an MVP (Minimal Viable Product) and a few field demonstrations and planned a slow organic and affordable commercialisation, starting in Australia. Then slowly going global as we knew Australia was a few years ahead of the rest of the world in terms of grid hosting capacity problems due to so much rooftop solar we have Down Under.

Then we won the World Energy Council (WEC) global start up award in 2019. When we won the award, the WEC Secretary General at the time (Christoph Frei), challenged us as follows, he said:

“This technology is game changing; you need to think 100 time bigger” …. that is, we need you to help speed up global decarbonisation and fast!

Since 2019 that is what we set out to do, and in that vein, we needed much more investment to speed up commercialisation and go global faster.

What is your top tip for anyone raising investment for the first time?
It’s never easy, the 1st time or the 10th time. Be prepared to spend a large amount of time raising funds and listen and learn from every pitch. If they say no, ask why. Always be raising and expect to pitch to 50 or more before you hit any jackpot.

What attracted investors to your company?
The IKEA flagship project in Australia which helped investors realise how eleXsys can radically speed up global decarbonisation in the local suburbs.  The IKEA project represents a microgrid at up to 10 times bigger than what current Smart Invert technology and grid constraints would allow.  So up to 10 x greater energy savings for the tenant, up to 10 x more rooftop rent for the landlord, plus up to a 10 x larger $ project for the asset owner (e.g. solar and battery power plant) to earn a secure, uncurtailed ROI over 20 years.

My biggest fundraising mistake was…
Not listening at first to potential investors.

Why did you choose to use Angel Investment Network?
A very supportive, understanding, and innovative group with a focus on ESG (Environmental – Social – Governance) investing. We are now raising our Pre IPO round.

What has the funding enabled?
The main focus was fine tuning our global expansion plans through our planned licensing model. Licensing allows us to scale global quickly as opposed to originating, developing, and building microgrid projects ourselves, which would be a very slow and cumbersome process.

Through licensing our vision is that eleXsys becomes the “Intel Inside” of the global local renewables supply chain.  That is, almost everyone is using eleXsys in their local suburban renewables projects to speed up global decarbonisation.

Did you know that filling every roof with solar could generate > 120% of Australia’s total electrical needs? Same should apply across the global sunbelt ≈ 75% of world’s population.

Cannot be done – local distribution grids will not integrate this much distributed energy due to grid physics limitations (curtailment) due to one-way grid design

Grid curtailment of DER (Distributed Energy Resources) begins to occur when the utility hits ≈ 15% of customers with DER, making projects non bankable .eleXsys cost effectively solves this fundamental problem one-way grid problem.

So far, we have one Master Licensee MOU signed and are negotiating with four more. Plus, established a few Alliance Partners licensees within Australia to be the sales channel and EPC of projects.  Some of the Alliance Partners are global multinational using Australia as a test bed eleXsys licensee, with the intention to then become a global licensee.

Plus the funds are being used to enhance our manducating capability along with recruiting more staff to support the faster growth.

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.

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Cleantech energy company eleXsys Energy raises £640,000 through AIN

eleXsysEnergy has raised £640,000 through Angel Investment Network, the world’s largest online angel investment platform. eleXsys Energy has developed a unique, international award-winning, enabling technology that will drive the transition of global energy grids to a clean energy future. The eleXsys® technology enables large commercial and industrial rooftops to become grid-connected, solar power plants. eleXsys® is the critical enabling technology being installed to build the IKEA eleXsys Microgrid at IKEA Adelaide, which will become 100% powered by renewable generation by 2025.

The raise took four months and was part of a larger £5m funding raise, including a Series A round of  £3.55m, with the funds allowing the business to continue its investment as it rapidly grows its global reach. eleXsys Energy’s innovative technology unlocks the full potential of electricity networks to host multiple times more clean, distributed energy without expensive network infrastructure upgrades. By providing services that enable a two-way flow of electricity on grids, the platform supports the most efficient, low-cost means of delivering clean distributed solar or wind energy.

The company originated in Australia but has now reorganised and is headquartered in London. This is eleXsys Energy’s first raise overseas and marks a significant step for the company.  The company has over 270 customers including 11 industrial rooftops across schools and government, agricultural and commercial buildings. The raise will allow the business to continue to invest in its technology as it rapidly grows its global reach.

According to Richard Romanowski, co-founder and Executive Director, of eleXsys: “We are delighted to have completed a successful round of fundraising with Angel Investment Network. Our technology is critical for the transition to clean energy – one of the world’s most pressing challenges. Funding from investors across the world confirms the transglobal appetite for investment opportunities in new cleantech solutions, aiming to tackle global carbon reduction targets. We are a rapidly growing business and with the capital raised, we will be able to further drive our strategic plans for expansion and deliver on our goals for our new and existing investors.”

According to Sam Louis, Head of Consultancy at Angel Investment Network: “We are excited to be working with eleXsys Energy in this period of significant growth for the company. This raise ensured that eleXsys secured the backing of strategic and experienced investors as they expand their global reach and make their mark on international markets. Our passion-driven investors want to support businesses that solve real problems and there’s arguably few greater problems to solve than how to dramatically scale the move to clean energy.”

News of the raise has been covered in the media both in the UK and internationally including: UKTN, TechLoop Europe , UK Tech Investment News, Growth Business, Eminetra and 24htech Asia