Bristol wearable tech firm raises £1m | South West Deals News
Summary
A Bristol-based tech business that creates software and wearable technology designed to make workplaces safer has overfunded an investment round and brought in \xa31m.Spacebands was founded by Harry Kimberley-Bowen and Ronan Finnegan in April 2020, with the firm creating a wearable contact tracing and social distancing device that helped businesses around the world operate through the pandemic.It has now pivoted completely and created a multi-feature hazard alert system geared towards workplace safety, wellbeing and insurance.The company has overfunded its seed investment round of \xa3600,000 to hit \xa31m.More than 25 angel investors from Bristol Private Equity Club, Angel Invest Wales, Southern Angels and more also contributed, while Spacebands has also been approved for the Innovate UK Future Economy Fund grant for \xa3250,000.The company will now use the funds to finesse its new product, which is "launching imminently", as well as grow its team.
Funding
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