Are Startups still being funded during the COVID-19 pandemic?
Despite a lot of businesses taking a pause during the various worldwide lock-downs, there has still been a lot of progress and activity with early startups. As many people have long hours indoors to work on personal ideas, it is the perfect time to start a new project. Just in the UK, many startups have received funding for new or existing projects to ensure businesses stay afloat. There has also been a rise in health tech startups to ensure the UK can utilize technology to its fullest, whilst navigating through the pandemic.
Here is an outline of a few startups who have received funding this last month and what they are working on!
MindLabs
Mind Labs are currently building the world’s first live mental health platform with the intention of helping those suffering with a range of different issues. The added impact of the coronavirus pandemic has caused depression rates to increased, following months of isolation. This has increased the demand for a platform like Mindlabs. They recently secured £1.4m in a pre-Seed funding round in October 2020. This investment was led by Passion Capital with funding also coming from Seedcamp, and the founders behind Zoopla and Cazoo.
Clim8 Invest
Clim8 Invest raised investment twice this year — in May and November. They are currently building a platform where investors can choose to put their money towards more sustainable and planet friendly ventures. This will enable people to make money whilst simultaneously helping companies who help the environment. With climate change at the forefront of global issues, Clim8 have been able to secure a total investment of $5.9m. A very promising start!
Wild
Wild have created a reusable, sustainable deodorant. They offer a range of colours and scents and are refillable in the hope to change the “throwaway culture of everyday bathroom products.” The rising need for sustainable products have helped their success, as they tackle issues with the most planet-friendly solutions. With each sale they make, they also donate a percentage towards climate charities. They raised investment in both February ($500K) and November ($2mil) of 2020, from the same investor each time. An impressive amount to be able to grow and continue to help the environment!
Prepaired
Prepaired is a platform where students can tutor fellow students for free. No one is charged as their ideology is that all education should be free. They are creating features where you can study in live audio rooms, listen to music and meet new people from different courses and universities. They recently received $150k funding from Seedrs, to help build out their platform. A great start to be able to prove their platform is a success.
As you can see, the startup industry continues to expand and innovate! It’s always worth looking into what grants and loans are available, to see how an idea can be executed. There are loads available alongside all the usual startup investors!
And of course, get in touch with us for all design, development and business related help. We at Tech Alchemy specialize in helping startups build their technology, from start to finish! Check us out here.
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