Safetytech startup spacebands overfunded at £1m investment
Summary
It has also been approved for Innovate UKs Future Economy Fund grant of \xa3250,000.The startup was founded by award-winning entrepreneurs Harry Kimberley-Bowen and Ronan Finnegan during the first lockdown. They joined SETsquared Bristol in May 2021 to support development of their wearable contact tracing and social distancing device that helped thousands of businesses around the world operate seamlessly through the pandemic.spacebands has now pivoted completely, creating a new multi-feature hazard alert system that will change the future of workplace safety, well-being and insurance. Its wearable and SaaS platform will alert for a multitude of hazards that will protect businesses by preventing workplace injuries and reducing staff sickness, whilst collating live safety data points.Employers are under increasing pressure to show that theyre doing all possible to decrease levels of risk around the workplace and set a higher standard when it comes to hazard prevention. The manufacturing, production and construction industries will be able to make informed decisions about their workplace safety by monitoring workplace stressors and prompting employees to action wellness at work.The spacebands team are absolutely thrilled to close this \xa31m investment. As we embark on our new product launch, these funds will be critical in taking our business to the next level by making key hires and finessing new product development.SETsquared Bristol has been invaluable throughout this investment process and helped us with our latest Innovate UK application where we secured \xa3250k in grant funding.