Led · Series A · Nov 2023

Hive-Zox offers a 'Connected Monitoring as a Service' (cMaaS) solution that combines proprietary IoT devices, programmable sensors, encrypted data transfer, next-generation mobile IoT communication protocols, and a cloud platform with prescriptive analytics. The vertically integrated product stores over 30,000 measurements and provides precise location and encrypted telemetry to enable real-time data intelligence across supply chains. The solution has been applied across pharma, air, ocean, and land freight and entered commercialization with Pfizer as its first pharmaceutical manufacturing client. Hive-Zox reports having completed comprehensive validations, obtained necessary certifications, and passed the highest data security checks. The company plans to use new funding to accelerate product development, expand its customer base, and enter the US and Asian markets. Hive-Zox was founded in 2019 and positions its cMaaS to improve logistical throughputs and ROI for customers.

Participated · Series B · Jun 2014

TransferWise, launched in 2011, builds cross-border money-transfer services and multi-currency accounts that let customers hold funds in 54 currencies. The company processes about £4 billion in cross-border transactions every month and serves over 8 million customers worldwide. TransferWise grew in popularity due to the simplicity and low cost of its international transfers. It has been profitable and does not require outside capital for growth, having rejected cash-burning hypergrowth strategies. Since 2017 it has offered multi-currency accounts, and it recently received clearance to offer retail investment services in Britain, indicating service expansion plans. The company positioned the recent secondary share sale as a response to investor demand rather than an operating need for funds. TransferWise is a London-headquartered international money-transfer service that enables low-cost cross-border payments. The company supports 49 currencies across 1,600 currency routes and serves 5 million customers, processing £4 billion per month. It estimates customers save £1 billion annually in bank fees. Audited financials for the year ending March 2018 showed 77% revenue growth to £117 million and a net profit of £6.2 million after tax. TransferWise employs more than 1,600 people across 12 global offices and plans to hire 750 more over the next 12 months. Management says capital is not an issue, a public offering remains a long way off, and recent regulatory changes (including the EU outlawing exchange-rate mark-ups) are favorable for the business. TransferWise provides low-cost international money transfers for consumers and SMEs and offers multi-currency Borderless accounts. Its core products include direct consumer and business transfer services, third-party integrations, and the Borderless account aimed at businesses, sole traders and freelancers. The company serves over two million customers, supports 750 currency routes, handles more than £1 billion in transfers per month and has roughly a 10% U.K. market share. TransferWise has been profitable since early 2017. Management plans continued global expansion with a focus on the APAC region, further development of the Borderless account, and a consumer version with a debit card planned for the U.K. and Europe in early 2018. It is also partnering with banks such as N26 (and soon Starling) and pursuing markets including India and Brazil. TransferWise provides online money-transfer services and has built a strong brand around its product. The company is London-headquartered and employs over 600 people across the U.K., Europe and the U.S., including roughly 100 product staff. TransferWise is currently loss-making and reinvests all revenue into growth. Management says the business is closer to obtaining its own U.S. banking licence and prefers to control its own banking arrangements. The company noted that a U.S. money-transfer licence is required for each state, and that the fundraising climate has cooled, giving it a range of equity and debt financing options. TransferWise built a P2P money-transfer platform (founded in 2011 by ex-Skype and PayPal engineers) that matches transfers between users to avoid traditional bank fees and use mid-market rates. It targets expats, freelancers, sole traders, retirees living abroad and small businesses, with an average transaction around £1,500. The company reports about £3 billion ($4.5 billion) transferred through its platform and customer cost savings of more than £135 million versus traditional bank transfers. TransferWise currently operates 292 currency routes and plans to add 300 more in the next year. It is opening a U.S. office next month and will launch outposts in Germany and Austria in the coming months as part of a global expansion. The new funding is intended to ramp up its P2P transfer business and help bolster the company against competition from banks, PayPal and other startups.

Participated · Seed · Mar 2014

Nuji is a U.K. social shopping startup, positioned as a competitor to Wanelo and Lyst, that enables users to curate and share fashion and lifestyle products. The service launched in 2011 and its main markets are the U.K. and the U.S. The company has focused on its website to date and says recent redesigns doubled engagement—pageviews rose from two to four per visit, time on site increased, clicks through to retailers grew and bounce rate halved. Nuji reports 30% of traffic is mobile and that 80% of that mobile traffic is iOS, which informed its product priorities. The $2M seed funding will be used to build and launch an iOS app (due in April); the company currently has no Android plans. Aside from earlier Seedcamp support during its incubator stint, Nuji had been bootstrapping development until this round.

Participated · Seed · May 2012

Farmeron offers a cloud-based SaaS platform to manage the complex production and herd data of dairy farms, positioned as an alternative to spreadsheets and legacy on-premise systems. The product targets dairy operations that need to manage between about 50 and 5,000 cows. The company says the new funding will be used to pursue enterprise sales. Farmeron competes with established herd/animal data management solutions such as DairyComp305 and DHI‑Provo. The article notes larger on-premise ERP vendors like Infor, SAP and Oracle are beginning to take interest in livestock software but have not developed SaaS offerings for the space. Financially, Farmeron closed a $1.4M seed round in 2012 and has just raised additional capital in the newest round. Farmeron is a livestock production SaaS platform that brings modern analytics and data integration to dairy and livestock farms. The product automates production metrics and farm records to reduce manual record‑keeping and reveal hidden insights from farm data. It launched in November 2011 and has expanded to 450 farms across 14 countries within five months. Farmeron plans to extend beyond livestock production into other agricultural areas and to integrate diverse farm data sources. The company moved from Croatia to London via Seedcamp and then to Silicon Valley while its development team remains in Osijek, Croatia. It has a distribution partnership with Germany-based Neelsen Agrar GmbH and recently raised capital to hire management and expand sales and support in the U.S. and Europe.