Carwow Wins Best Investment in Disruptive Tech Award
Carwow have won the UKBAA Best Investment in Disruptive Tech Award at the 11th annual Angel Investment Awards.
The award, sponsored by Innovate UK, celebrates investment in high growth potential technology-enabled businesses across a range of sectors and applications, recognising the role played by the investors who backed them.
Carwow’s win was announced by Kiki Loizou, Small Business Editor of The Sunday Times. The award was presented by Dr Ruth McKernan, Chief Executive of Innovate UK (pictured, right).
The nine finalists were:
- 3D Repo
- Oxford Space Systems
- Recycling Technologies
- Vantage Power
The shortlisted companies for this award have been identified for their capability to use innovation to achieve either technological or market disruption and have effectively used angel finance, often alongside other finance sources, to support their growth strategy.
The judges commended carwow for being a highly disruptive business within the consumer car market, offering an innovative model connecting buyers to dealers and moving from car showroom to platform-based technology. They also noted the founders, who had mobilised significant levels of angel investment from key industry players, together with a range of VC investors, enabling the company to scale-up and exceed its growth targets for users and sales in 2016.
Oxford Space Systems won the One to Watch Award. The judges identified the business as a highly disruptive technology company developing a new generation of deployable structures for the fast growing global space and satellite industry. The company has used a range of investors including seed, VC and industry funds and commercial collaborations to support its further growth and product development.