LocalGlobe leads funding rounds into tech startups

Author

UK Business Angels Association

18 November 2016

LocalGlobe, the UK-based venture capital firm that focuses on seed and impact investments, recently led funding rounds of £1.8m into health tech startup, Echo, and £1.3m into agriculture tech startup, WeFarm. Last month, the VC founded by Robin and Saul Klein, also supported a £2.2m funding round into the shipping service provider, Weengs. LocalGlobe’s portfolio companies include the likes of Citymapper, Lovefilm, Moo, TweetDeck, TransferWise and Zoopla.

Echo was born out of a frustration with the confusing repeat prescription system used in the health service. As part of an urgently-needed dose of innovation in the NHS, the healthtech startup allows users to request prescriptions via the app, which are then sent to their existing NHS GP for approval. Participating in the funding round of Echo alongside LocalGlobe was Global Founders Capital.

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WeFarm has built an SMS and web-based peer-to-peer network of farmers with the purpose of helping small-scale farmers, even those that operate offline, to access relevant agricultural expertise including crowdsourced information and advice from other farmers. The service uses machine learning technology to connect incoming questions to those users on the system who have the most relevant knowledge. The money WeFarm has just raised will be used to expand its user base, giving more small-scale farmers access to vital agricultural information.

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Weengs provides low-cost packet services including collection, packaging and shipping, for individuals and small businesses enabling them to compete with giants such as Amazon. In addition to LocalGlobe, participants in this latest investment round included Cherry Ventures, VentureFriends, Seedcamp, Ned Cranborne and Shan Frummond. The new funds will support Weengs in their expansion across London and Europe.

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