News / Tech
Inventors of social distancing gadget land £250k investment
The company behind the world’s first wearable technology solution to make the work place safer has secured a £250,000 investment, enough to begin the next phase of its business journey.
Spacebands launched in March 2020 with the aim of helping businesses stay open by alerting users by vibrating when they get too close to each other.
Its owners, Harry Kimberley-Bowen and Ronan Finnegan came up with the idea around their kitchen table in Clifton. They went on to sell the product around the world to companies and organisations that include the NHS, Ministry of Defence, Panasonic, Sony and Amazon.
The company recently pivoted to create a new multi-feature hazard alert system that aims to change the future of workplace safety, well-being and insurance.
The wearable and app and web-app platform will alert businesses to a multitude of hazards that aims to protect businesses by preventing workplace injuries, reducing staff sickness, and enabling workplace wellness whilst collating a paper trail of live safety data points.
Spacebands launched a crowdfunding campaign on Seedrs in April in the hope of raising the remaining £150,000 of their £650,000 target, after raising over £450,000 of investment from angel investors.
However the pair have smashed their campaign target earlier than they had hoped after a donation by an unnamed but well-respected VC investor, and are now into overfunding.
Harry and Ronan said: “We are still punching ourselves that such a well-respected institutional investor has come on board and is aligned with our mission to improve workspace safety for all.”
Despite smashing their target, Harry and Ronan are still offering the public the chance to become a shareholder in Spacebands.
The campaign will be live until May 28.
Main photo: Spacebands
Read more: Inventors of social distancing gadget to launch new ‘game-changing’ product
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