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Haatching ideas into flourishing businesses, despite lockdown

Longstanding client Haatch Ventures portfolio has continued to expand over the past 18 months since we set up the structuring and creation of the Haatch Enterprise Fund in September 2018. We have continued to work with the Haatch team on a number of exciting investments for technology businesses, many of which are thriving during the current pandemic.

FF Poplar – A first with Tik Tok

Poplar is a platform that allows you to easily create augmented reality (AR) experiences with an easily accessible online community and collaborative tools. The business was picked as one of the first technology partners of Tik Tok, the video sharing social media platform that has swept the nation since lockdown. They are also working with Google on their new 3D advertising platform and were recently nominated for both Startup of the Year at the London Business Awards and 37 in the top 100 UK startups by startups.co.uk. The company raised $2.1m in a round led by Fuel Ventures (with Haatch Ventures, Ascension Ventures and Super Ventures) in May 2020 following an initial £500k seed investment led by Haatch in April 2019.

Buymie – the Deliveroo for groceries

A mobile-first, on-demand grocery delivery platform based in Dublin, Ireland, and recently launched in Bristol, UK that lets customers order from local stores such as Lidl, Co-Op, Asda and Tesco and get delivered in as little as an hour. Buymie doesn’t need vans and large distribution centres, but connects the customer with hundreds of independent personal shoppers who pick and deliver to their door. Haatch Ventures has been involved in their seed investment rounds totalling £450k in January 2019, a further £700k raised later that year, and their Series A Rounds which saw Buymie secure ‚Ǩ2.2M (£2M) in April this year followed by ‚Ǩ5.8M (£5.2m) this month in a round led by Wheatsheaf Group, the food and agriculture investment branch of the Grosvenor Estate, alongside existing investors Haatch Ventures, Sure Valley Ventures, Act Venture Capital and HBAN. The funding will help Buymie continue its expansion to the UK where its expected demand for same day food delivery services will continue to grow beyond the easing of lockdown measures.

Deazy – on-demand accessibility

Deazy works with businesses including Cancer Research, Coca Cola and The New York Times. They provide on demand web, app and software development making digital products more accessible to businesses. They help take an idea from concept into reality quickly and cost effectively. Haatch Ventures led their £415k seed investment round which closed in September 2019.

Liquid IP/VuePay – creating a knowledge sharing community

VuePay allows SMEs to share knowledge, skills and talent. So from fitness coaches to plumbers, these businesses can set themselves up as a broadcaster and earn money from it. Haatch Ventures invested £200k in April this year and VuePay launches early next month to the public!

Eleanor

Eleanor is a booking and management platform for resorts that allows guests to pre-book extra services such as spa treatments and excursions. Haatch Ventures was involved in two seed investment rounds in April 2019 and then again in April this year.

Fred Soneya, co-founder of Haatch Ventures said: “Working with Mills & Reeve we’ve continued to develop on our mandate of backing founders building truly disruptive digital companies. Where Covid has slowed for many, we’ve used the accelerated shift to digital to continue to back some of the best founders & teams in the UK. We’re currently working with Mills & Reeve on a further 5 investments all due for completion by August.”

Zickie Lim, partner at Mills & Reeve said: “Working with Haatch Ventures is always exciting. The investments they are making into these digital businesses are really disrupting markets and ultimately making it easy to connect businesses to their customers.

They use their extensive knowledge and experience of the sector to nurture talent offering vital early stage investment that allows businesses to scale-up, research or find new markets.”

Haatching ideas into flourishing businesses, despite lockdown

By Mills and Reeve LLP24 Jun 2020