Sure Chill secures £4 million investment from The Garage Soho and Novastar Ventures
Summary
Peter Saunders OBE, serial entrepreneur and investor remains the largest shareholder.The investment will be used to catapult the company to the next level; attracting more top talent as well as expanding its operations with new offices overseas.After proving the success of its technology through vaccine refrigeration in both on- and off-grid locations, Sure Chill has received increasing interest from some of the worlds largest brands looking to make use of its unique cooling technology in other major commercial sectors.Sure Chills turnover last year was \xa33m and the company has ambitious plans to grow significantly. It was attracted by how Sure Chill is disrupting the refrigeration market and interested in its social impact.The Garage Sohos co-founder, Sir John Hegarty, whos famously known as a founding partner of Saatchi and Saatchi and the founder of Bartle Bogle Hegarty, helped to set up the company following a highly successful career in global advertising which saw him awarded a Knighthood by the Queen in 2007.Commenting on the investment, Sir John Hegarty, The Garage Soho said: Its rare to find such an innovative technology that will have such a profound impact on the well-being of the planet.Its rare to find such an innovative technology that will have such a profound impact on the well-being of the planet.Novastar Ventures, which also invested \xa32m in Sure Chill, is a Kenya-based venture capital fund manager dedicated to finding and supporting the next generation of entrepreneurs designing and executing innovative business models to profitably serve Africas mass markets. According to the International Monetary Fund, African economies are amongst the fastest growing in the world, making it a significant trading and investment partner for the UK.Sure Chill was one of only two Welsh companies invited by the Prime Minister on the mission representing the very best of British business in technology.Sir John Hegarty has been central to the global advertising scene over six decades. Previous investments include lastminute.com, ARC, mergermarket, MADE and notonthehighstreet.com.The Garage Soho team work closely with portfolio companies on their brand strategy, creative and media partnerships from the outset and throughout their journey to exit.Novostar is an Institutional Investor. It deploys distinctive assets and capabilities to support exceptional entrepreneurs creating and growing breakthrough businesses in East and West Africa