Fuel Ventures lead Kepler's pre-seed round

We're thrilled to announce that we are investing Kepler. The team are fully focused on developing our technology, building out our operations team, and launching our first corridor in Europe.

What is Kepler?

It’s a digital freight platform that aims to revolutionise the logistics industry by bringing in cutting edge tech solutions to cut transit times by 50% using a Relay led model.

Why now?

Their relay road freight services are designed to solve some of the biggest challenges the industry is facing, such as the driver shortage caused by difficult job conditions and long periods away from home. Their innovative approach is particularly valuable for industries that require fast and reliable services in the likes of fresh produce, high-value items, pharmaceuticals, and express shipping services like DHL.

It's worth noting that the road freight industry in Europe is facing new regulations that will require carriers to meet stricter emissions standards and adopt new technologies to improve safety and efficiency. At Kepler, they're already ahead of the curve and well-positioned to help their customers comply with these new regulations while still delivering high-quality transportation services.

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Fundpath secures £4m funding round with Fuel Ventures

Fundpath, the data and technology business bridging the information disconnect between asset managers and wealth managers, today confirmed the completion of a £4m late seed funding round with Fuel Ventures.

What is Fundpath?

Launched in 2021, intelligent data-driven SaaS platform Fundpath, is transforming the traditional sales process, enabling fund buyers and allocators to share their business responsibilities, parameters, interests and intentions quickly and securely with asset management firms. This helps asset management fund distribution teams to deliver a superior client experience by communicating relevant, timely and actionable investment information, thereby improving the quality and relevance of engagement between fund buyers and sellers.

The £4m investment round will enable Fundpath to extend the breadth and depth of its systems and data, and to invest in new technologies.

Fundpath Co-Founder & CEO, Jamie Hinchliffe explains: “Our mission is to bridge the information disconnect between the buyers and sellers of funds. Over the last 18 months, we’ve been working even closer with the wealth and asset management industry to do just that. Now, with Fuel’s investment and hands-on support we can continue to innovate, launch supporting tech platforms, and invest in the very best people.

“The Fundpath team is extremely excited about this next phase of growth, providing the industry with ever smarter solutions, to further improve professional lives.”

Fuel Ventures evaluates more than 6,000 investment opportunities each and every year, but invests in just 12-15 firms.

Mark Pearson, General Partner at Fuel Ventures said: “With Fundpath, we see a huge opportunity to positively impact an important industry, by solving a genuine problem through technology and data.

“The outstanding feedback we have received from wealth managers and asset managers about what Fundpath is creating, and the scale of the progress that has been made in such a short period, was enough to convince us that we should be part of their journey. The team can be sure of our total support as they work to bridge the information disconnect in the fund buying sales process.”

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PHINXT announces Wayve founder-backed £600,000 pre-seed round to scale its robotics solutions for SME warehouses

•The oversubscribed round of £608,000 was led by Fuel Ventures

•Other notable investors include Dhyan Ventures, Atlas Ventures, APX, and angels from Venture Together and Alma Angels

•The two cofounders have between them 3 PhDs and over 20 years of related industry leadership experience

PHINXT Robotics, a London-based startup, has raised over £600,000 for their pre-seed round from top VCs and angels, including the exited founder of autonomous systems startup Wayve, Amar Shah and founder of Dhyan Ventures. Other notable investors include the lead Fuel Ventures, and Atlas Ventures, APX, and angels from Venture Together and Alma Angels.

Currently less than 10% of warehouses are able to adopt robotic automation due to the issues of high cost, high complexity and long lead times. PHINXT’s cloud-based platform helps small to medium-sized warehouses compete with larger logistics companies by increasing their automation and adoption of robotics. The funds will be used to field test their first product and run it successfully in a first group of customers’ warehouses.

PHINXT has already patented its decentralised edge computing technology, which enables ultra-simplified deployments that require minimal IT infrastructure costs. PHINXT’s software also gives SMEs the the flexibility to scale up and down the number of robots as needed, as opposed to the current more rigid robotic systems.

Cofounder and CEO, Yanwen Chen, PhD, said, “Robotics automation has become a must for businesses that want to stay competitive in the logistics and manufacturing industries, however, it is still something that only large companies are able to afford. We are changing that and, thanks to our tech, we plan to bring the advantages of robotics automation to many SMEs across Europe in the next couple of years.”

Tom Hibbard, Principal at Fuel Ventures, said, “PHINXT is a deep tech company that also has short-term commercial potential. They are one of the rare startups that has deeply technical founders who are extremely focussed on their customers and their needs. We’re really pleased to be backing this team.”

Amar Shah, founding partner at Dhyan Ventures, said, “To benefit from automation in warehouses, robots need sophisticated real-time coordination. PHINXT delivers exactly that without the need of a large engineering or research team, helping the smaller players stay competitive amongst giant organisations. As a founder in the robotics space, I can see the vast potential for their technology and am excited to join them on their journey to scale.”

The cofounders both have deep technical and industry experience. Yanwen Chen has two PhDs in Computer Science focused on logic models for cyber-physical systems and large-scale robotics synchronisation. She designed and patented the technology, along with the underlying mathematical model, that enables decentralised traffic management for robotic fleets and self-driving vehicles. Thanks to this proprietary tech, robots do not rely on a central server and this allows for unprecedented levels of resilience and ease of management, which are the key aspects for mass adoption of robotics. In addition, she brings a decade of experience in the industry, both as a technical contributor and as a leader. Quirino Zagarese has a Ph.D. in Software Engineering with a focus on service computing for ultra large scale systems and experience of more than a decade in professional software development and leadership. He launched several global products that are currently used by businesses like Lego, Sony PlayStation, Meta, Epic Games, and many others.

About PHINXT

PHINXT Robotics (pronounced “fee-nixt”) enables warehouses of any size to deploy autonomous robots as needed, with no expertise required. Thanks to its patented decentralised edge computing technology, PHINXT ensures unprecedented levels of reliability whilst enabling ultra-simplified deployments that require minimal IT infrastructure costs. This will allow small- and medium-sized warehouses to adopt robotics more easily and compete with the larger logistics companies, and gives them the flexibility to scale up and down the number of robots as needed. In addition, PHINXT can provide interoperability between any type of robot to build out fully autonomous ecosystems. The startup was founded in April 2022 by Yanwen Chen, PhD, and Quirino Zagarese, PhD, who are both experts in autonomous systems. Find out more at PHINXT.com.

Media contact: hailey@commplicated.com - 07872629960

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PLAYE raises pre-seed round, led by Haymarket Media Group, with Fuel Ventures and 1in100 Ventures

Fuel Ventures has participated in a strategic pre-seed round in content creation platform, Playe. The startup enables brands to seamlessly partner with its global network of creatives, to create tailored content of any kind, wherever they need it. Playe provides the cloud based tools for this ecosystem to collaborate, and its unique infrastructure overcomes the locational cost and sustainability challenges traditionally associated with global content creation.

Why now?

The Covid-19 pandemic has played a major role in the rise of the gig economy for creatives. As businesses and organisations have been forced to cut back on expenses and adapt to the challenges of the pandemic, many have turned to gig workers to fill gaps in their workforce. This has created a surge in demand for creative gig workers, who are able to offer their skills on a flexible, project-by-project basis.

The emerging global market for creative gig work is expected to hit $450bn in 2023, with 5 out of top to 10 most in demand gig skills being of a creative nature.

Heightened competition, and a changing demand for skills has also started to push Enterprise customers towards engaging directly with gig workers, in pursuit of a more cost effective and nimble creative supply.

The backing from Fuel Ventures, alongside other investors including Haymarket Media Group and 1in100 Ventures, has allowed Playe to make its official market launch today in the UK, Europe and Australia. The funding will be used to focus on Playe’s international expansion and accelerating product delivery.

Playe has quickly established itself as the go-to resource for international brands including McKinsey, Mr Yum, Bloomreach and Catawiki, looking to scale their creative capability, in response to increasing demands for localised content. More than 350 creatives are already using the platform to connect with the brands who need them.

About the Founders

Playe was formed in 2021 by co-founders Jonas Espvall, Mitch Brown and Rob Older. Their combined, extensive knowledge in content creation comes from years of experience, working at companies including Adobe, Google and Salesforce.

Mitch Brown has spent the last decade taking innovative solutions to market, with a focus on solving high value problems in enterprise brands. Working across both ANZ and EMEA, Mitch has been highly successful in various senior commercial roles in both startups and tier 1 big tech. Prior to Playe, he led complex data transformations within Strategic Media Accounts at Adobe, where he was responsible for bringing on over $12M in recurring SaaS business.

Jonas Espvall has worked in tech for the last 13 years, joining Google in 2009. He joined the UK founding team of Wildfire in 2012, which was later acquired by - Google. Since 2014 he’s held a variety of leadership and operational roles. Predominantly within SaaS businesses and more recently Regional Director, Northern Europe at Salesforce.

Rob Older is a content and production professional who has worked within the online video and tech startup space since 2010. His broad set of skills & expertise include: end-to-end content creation & delivery, project, client and team management, creative planning & strategy, marketing communications and business development. A content creator at heart, he’s passionate about innovation, travel and health & wellness.

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Data-led Legaltech App, MyNestBox, raises £1.3m in an oversubscribed Seed round led by Fuel Ventures

MyNestBox, a digital platform and API that connects thousands of data sources to speed up home buying, has raised a £1.3 million seed round led by Fuel Ventures, alongside backing from numerous property law firms. MyNestBox features interactive and data-led on-demand “searches” for property lawyers. “Searches” are currently supplied as large PDF documents containing all the information a home buyer (and their lender) need to know, such as flood risk, subsidence, coal mining, and public rights of way. Since launching in beta, MyNestBox on the other hand supplies the data instantly to the lawyer. MyNestBox have letters of intent exceeding £1 million annually, to be realised in 2023.

The platform was co-founded by proptech and software entrepreneurs Henry Crosby PhD. and Adam Rogers. Henry, who is the company’s founder and CEO, says the idea for MyNestBox was prompted after he bought his first home, which took 6 months from offer to completion. Henry knew that his experience working for Proptech start-ups could overcome a significant chunk of this. He met Adam in 2020. With Adam’s personal experience of buying a home being no better, as well as his years of building products on the internet, he was immediately taken with Henry’s vision.

Whilst speaking with Henry, he said “property lawyers are in tight supply, and many law firms are reluctantly turning away business daily, because they are struggling to recruit new talent. As a result, means that some law firms are looking at ways to use technology to increase their capacity, whilst maintaining or improving service. By supplying this data instantly, and in a more meaningful format than ever before, we are enabling, for some law firms, a 40% increase in capacity.”

In terms of the new funding, Henry says that MyNestBox plans to use it to bring on additional team members, and to take their first iteration of the product to market in Q1 2023.

To find out more about MyNestBox, visit mynestbox.co.uk

About MyNestBox

It takes less than an hour to buy shares on the stock market. But it takes 5 and a half months to buy a home, from offer to completion.

Transactions are completed by property (“conveyancing”) lawyers who are expected to collect a huge amount of data to evidence their duty of care for their clients, and their client’s lenders.

This would be okay if the data that underpins the home buying market wasn’t such a mess. The most painful example of this is the (sometimes) 12 week wait for “searches”, which is a baffling 100+ page suite of PDFs commissioned by the buyer’s lawyer, to tell the home buyer everything that they really need to, but don’t want to know about their potential home, such as underlying radioactive gases, Flood Risk, Adopted Roads, and subsidence.

MyNestBox solves this problem by processing “search” data everywhere, all the time, to maintain the first live property constraints database for home buying. Their platform will automatically collect 10,000+ datasets across 700 data sources and process it against all 30 million properties in England and Wales instantly.

About the founders

Dr Henry Crosby PhD is a Geospatial Data Scientist. He has spent 10 years contributing to the development of many products in the Proptech sector including at Nimbus Maps and Carterwood Analytics. His published authorship regularly discusses property data aggregation, including writing about the development of a state-of-the-art automated valuation model for UK residential properties.

Adam Rogers is an experienced entrepreneur and software engineer of 15+ years, in that time he led projects for the likes of Channel 4, as well as several exited spin outs from digital agency, Mint Digital. Previously he was the solo founder of DeskBeers, an enterprise beer on demand delivery start-up.

Mark Pearson, Founder & Managing Partner at Fuel Ventures: “Leading this round was a no-brainer for us, MyNestBox are solving such an obvious problem, in a space that has so much potential for disruption. The team have the experience, the deep technical skills, and a wealth of advocates in the sector, so we’d be mad to not back them all the way!

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Homemove closes $400k pre-seed round, tackling the fragmented, antiquated and stressful process of buying and selling a home.

What is Homemove?

Homemove is a tech platform connecting sellers, buyers and renters with vetted, trusted and established home moving services.

Homemove reduces the stress of moving home by streamlining the process and providing a one-stop destination for customers to research, choose and talk to each professional service in the home moving journey online with real-time updates, all for free.

Why Homemove?

According to Legal & General, moving home can be one of the most stressful times in a person's life and, with Homemove, the goal is to augment the home-moving journey through technology and exceptional customer service, reducing transaction times and fall-through rates and ultimately reducing one of life’s biggest stressors.

In an effort to challenge the so-called ‘disruptors’, Homemove will be promoting the best local and independent service providers who prioritise their clients' best interests. The platform, which has already onboarded over 500 estate agents throughout the UK and built out strategic partnerships with other home moving services, aims to improve service levels across the industry and reduce the number of transactions that fall through.

Thoughts from the team

Louis O’Connell-Bristow, Homemove co-founder & CEO: “My vision is to significantly improve the home moving process and this funding round is a major step towards achieving that goal. As an ex estate agent, I have witnessed firsthand the issues that can arise in the industry due to poor practices, which can lead to consumers feeling sceptical and negative towards the entire sector.

At Homemove, we are promoting only the highest rated companies that can benefit from Homemove's trustworthy and impartial reputation, while still maintaining the personal touch that customers want during this significant life event.”

James Freestone, Homemove co-founder & COO: “At Homemove, we are not just building a brand, we are building a legacy of trust and excellence. We are thrilled to secure funding from institutional investors alongside strong angel investors. Their investment will go towards ensuring that all of our customers have the best home moving experience possible.

We are always pushing the boundaries to find new ways to reduce costs and stress for all parties involved, in our relentless pursuit of becoming the gold standard in customer service and streamlining transaction times, nothing is off the table.”

What’s next for team Homemove?

After launching the beta version of the Homemove product in June last year, the team has experienced significant growth in customers with thousands using the platform to seek the best home moving services. Homemove has already surpassed last year's record month of users in the first two weeks of 2023 alone as the company seeks to become the go-to place for moving home.

The funds raised will be used to build out the platform and introduce B2B SaaS features such as CRMs, communication and AI valuation tools to enable the partners who have been hand selected to join the platform. Additionally, the team will use the investment to expand the partnership team to improve geographic and segment coverage across the UK and provide working capital to support its expansion.

To find out more about Homemove, visit www.homemove.com or contact james@homemove.com

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Hotel Manager lands £1m investment from Fuel Ventures, leading early stage VC Pitchdrive and a host of other great investors

What is Hotel Manager?

The UK based company was founded in 2020, providing hotels with a suite of solutions, allowing hotels to combine the modules they need for their properties with an easy to use no-code platform. Mix and match modules like Chat, Check-In and Commerce enable hotels to supercharge revenues and rule operations.

Hoteliers are able to launch their own guest facing applications to enable a new communication channel, promoting in-house services as well as attracting diversified revenue streams through commission based experience booking income. On the operational side, Hotel Manager provides staff with a purpose built solution - helping move away from excel spreadsheets and WhatsApp.

Why Hotel Manager?

Led by CEO Ajwad Hashim, 2x Founder and former Technology Innovation lead at Barclays; together with Gokulan Kannan, Agni Ilango and Jay Luarca, the team bring a wealth of SaaS technology and commercial experience to the company. This experience combined with the executive leadership of veteran hotelier Francisco Macedo (Hotelier and Chair of the Institute of Hospitality South East) makes the team perfectly placed to reimagine the future of hospitality.

“In order for hotels to win in the new world of travel, they will need powerful solutions that work in their favour, and not against them. Existing tech is too expensive, too fragmented and not cut out for the modern world. Together with hotel owners, hospitality staff members and fellow travellers, we’ve reimagined hotel software from the ground up and purpose-built it for an on-demand generation.” Ajwad Hashim, CEO

What does Fuel Ventures think?

It was an absolute no-brainer for Fuel Ventures Pre-Seed fund to lead this round. The hotel industry is absolutely primed for disruption in this post-covid world. Customers now expect by default to be able to enjoy their hotel experience in a fully tech-enabled way, and hotels big and small currently are far from able to provide this. Hotel Manager not only enriches the customer experience, but also provides tech-enabled tools to help hotels operate more efficiently - which is going to be especially important given the wider economic environment.

Throw in a top team led by CEO AJ and follow-on investment from Pitchdrive - it all adds up to an investment the Fuel Ventures team will be watching very closely going forward.

What’s next?

With this round, Hotel Manager aims to build on its rapid growth in user base and further expand into global markets. The funding will enable the team to expand and hire key team members as well as develop strategic partnerships to drive user growth.

To find out more about Hotel Manager, visit www.hotelmanager.co or contact hello@hotelmanager.co

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Brizy.io raises £2m seed round from Fuel Ventures

Brizy.io, the startup behind a headless, multi-platform website builder today announced its first institutional fund raising round led by leading VC firm Fuel Ventures alongside a new on-premise website builder solution, Brizy Local.

What is Brizy?

Brizy is a leading headless SaaS website builder platform focusing on web professionals, agencies, and hosting providers. Platform agnostic, more than 400,000 projects have been built on Brizy to date. Brizy’s user base hails our intuitive UI for building beautiful websites, landing pages, pop-ups, and web-stories with ease. Thousands of resellers have discovered the power of Brizy’s whitelabel builder solution which is available for Wordpress, as a Cloud Solution, and as a Local Editor.

How does it work?

Businesses of all sizes now have access to a lightweight website building solution called Brizy Local. Brizy Local runs on the infrastructure of the client and is a tiny file that allows service providers to provision a website builder to their end users in any existing environment. In contrast to hosted/ cloud-type builders such as Brizy Cloud or Wix, or plugin-based website builders such as Brizy Wordpress or Elementor, Brizy Local is a tiny CMS that runs on the host’s server directly. That has a number of advantages such as extreme speed to publish projects as well as maintaining compliance such as GDPR of providers required to do so.

Furthermore, Brizy announced today that it raised a seed investment round led by Fuel Ventures, one of the UK’s most active VCs in the technology sector. “We have aggressive plans for growth over the next 18 months and are very proud to have Fuel on board as a partner now”, says Dimi Baitancuc, CEO of Brizy. “While we have been profitable since starting out in 2018, we are excited to accelerate our growth. As a product-first company, we will expand our team of developers, support staff and we will also bolster our marketing and sales team with the investment by Fuel. Lastly, we have started working on a 4th product line which we look to reveal in mid 2023”.

Mark Pearson on Brizy

“We receive several hundred investment proposals each month but only invest into 10-15 per year”, says Mark Pearson, Founder & Managing Partner at Fuel Ventures. “Deciding to invest into Brizy was easy. They have a world-class product, have a proven track record and business model, a strong team of founders and an exciting lineup of products in the pipeline. Even with the recent slowdown of VC activity we felt confident that Brizy will take the website builder market by storm!”.

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Searchland raises £2.3m to help developers solve housing crisis with automation

Searchland, the next-generation platform for land sourcing, has raised £2.3m in seed funding from Fuel Ventures to help property developers build more homes. Having gained significant traction with developers since its launch last year, Searchland will use the funds to integrate additional datasets and further automate land sourcing processes so they can rapidly find, validate and acquire off market sites for development.

What is Searchland?

Searchland is the next-generation platform for land sourcing. By making developers data-driven and automating their most time-consuming processes, it allows them to find, validate and acquire high margin development opportunities ahead of their competitors. Searchland is driven by the belief that technology has an integral part to play in solving the housing crisis. Its digital tools transform the land sourcing process so developers can focus on what they do best - building more homes. Its customers include some of the country’s best-known property companies including Places for People, Galliford Try and Aster Group.

Why now?

Amid a scarcity of land for development in the UK and with property companies using over thirty data resources to assess the development potential of a site, the process of securing viable off market sites is a slow, fragmented and complex task. Faced with higher site and build costs, developers also now need to be more confident in their margins. All of these factors contribute to the lack of supply of new homes and ongoing housing crisis in the UK.

How did Searchland come about?

Searchland was founded by Mitchell Fasanya, previously co-founder and CTO of influencer marketing agency FanBytes (acquired by Brainlabs), land planner Hugh Gibbs, data scientist Arthur Goodhart and computer scientist Archie Kennedy-Dyson to turbo charge land sourcing processes and help developers build more homes. The proptech company has enjoyed significant traction since its launch last year thanks to its user-friendly, data-driven platform and automated processes.

“Having tried to find a site of my own to build on, I discovered there was very considerable friction in the land sourcing process’” comments co-founder and CEO Mitchell Fasanya “The property industry is rich in data but it wasn’t being leveraged effectively and developers were having to trawl through a myriad of clunky databases to track down the information they needed. While modern digital tools had emerged they failed to eradicate the industry’s antiquated processes and were prohibitively expensive for the majority of developers.”

By integrating the relevant data sets, Searchland has created a rich mosaic of the country’s property that provides developers with all the insights they need in a single click. Developers can instantly uncover sites that meet specific criteria including the percentage of undeveloped land, use class and building height, as well as review key information such as planning history, ownership and constraints - all without leaving the platform. The platform also features digital workflows for other admin-heavy tasks, such as sending letters of interest to land owners to explore their willingness to sell.

“In less than a year we’ve built the most sophisticated platform for land sourcing and we have a conversion rate of 70-80%. Ultimately we want to offload all of the admin heavy tasks for developers so they can focus on what they do best - building homes. This funding round will allow us to accelerate product development and advance further ahead of the competition,” continues Mitchell Fasanya.

“Searchland has created a very powerful and highly scalable product that is set to become the industry standard for land sourcing thanks to its customer-driven approach and pace of innovation. We were very impressed by the team and were keen to lead the current round with a significant ticket,” comments Mark Pearson, founder and managing partner at Fuel Ventures.

SearchLand was a participant in the Geovation Accelerator Programme in spring 2021 – a programme which provides geospatial and PropTech start-ups with grant funding and 12 months of support, backed by HM Land Registry and Ordnance Survey.

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Aide Health secures $1.2m to help patients manage long-term conditions

Health-tech startup Aide Health has raised $1.2m in pre-seed funding led by Hambro Perks through its EIS fund, with participation from ourselves, 1818 Ventures and APX Ventures.

What is Aide?

Launched by co-founders Ian Wharton, CEO, and Brian Snyder, COO, Aide is a digital platform that helps patients and their clinicians better understand and manage long-term health conditions, currently affecting over 26 million people in the UK.

In 50% of cases, people struggle to follow the treatment as prescribed by their clinician, lowering their quality of life and placing added strain on the resources of the health service.

How does Aide work?

Aide provides clinicians with a platform to create and remotely monitor health plans for people with chronic disease, paired with a mobile app for the patient which acts as a co-pilot through their care. Using natural language, Aide has short, daily conversations to help with the day-to-day management of health conditions through medicines optimisation, structured monitoring and structured education.

What has been the progress so far?

The service is currently being used by the NHS, with a pilot launched earlier this year supporting people aged between 18-75 with asthma or type-2 diabetes. Aide has a specific focus on meeting the rising challenge of comorbidity and will soon be launching pathways for hypertension and chronic pain.

Ian Wharton, co-founder and CEO at Aide Health, says: “Like many people, I know first-hand the frustrations of trying to manage long-term conditions. Our goal is to give both patients and clinicians the tools and insights they need to have better conversations and make more informed treatment decisions together. The pilot in NHS England is our first step towards making Aide available to everyone with chronic illness.”

Alexander Breeden, Senior Investment Associate at Fuel Ventures, commented: “We are very much excited to be working with Ian and Brian. We believe Aide Health has the potential to be an extremely impactful tool both for clinicians and patients in managing long-term health conditions. Initially starting with asthma and type-2 diabetes, we expect the team to expand beyond these diseases and will as a result have a wide standing impact on chronic illnesses. Ian and Brian were a clear choice for us and we are thrilled to be part of their journey.”

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