News blog

EIS Crowd 15 April 2021

  • BY: Andrew Hore |
  • POSTED: 18/04/2021 |

Iduna Electric Vehicle Infrastructure is using the Abundance Investments platform to raise £4m to install 50 electric vehicle chargers in Greater Manchester. The positions of the charging points have been agreed with Transport for Greater Manchester. Iduna recently acquired Amey Map Services and it will use that company’s brand Be.EV as the brand for the new chargers. The power will be provided by Octopus Energy. The sites will generate revenues from electricity sales and advertising.  The strategy is to install more than 160 charging points by the end of 2022. The offer is in the form of five-year green bonds with a yield of 9%. In one day, there was £1.7m invested.
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Crowdfunding platforms Crowdcube and Seedrs have dropped their planned merger due to the negative reaction from the Competition and Markets Authority (CMA).
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Trading app provider Freetrade recently raised cash at a valuation of £265m and this means that the initial crowdfunding investors back in 2016 have enjoyed a 4570% increase in their investment. There have been seven crowdfunding rounds in all. AIM-quoted Draper Esprit is a shareholder. 
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Online CBD products market operator Alphagreen is raising cash via Seedrs at a pre-money valuation of £10m. The initial target was £1m and the cash raised has hit £1.5m. The online platform provides manufacturers of CBD-infused products with a way of selling them around the world. There are plans to move into medicinal cannabis. Last autumn, Alphagreen raised more than £1m in seed funding. 
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New fintech Ikigai plans to launch a crowdfunding via Crowdcube in the middle of April. Ikigai has a combined online banking and wealth management app which charges a monthly fee. Ikigai raised £2m in seed funding and the app has been up and running since February, although it is still early days and it is ahead of the official launch. The plan is to raise £1.2m. 
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East London Liquor is trying to raise £750,000 via Crowdcube at a pre-money valuation of £26m. In 2018, the company raised more than £1m. The cash will be invested in a new whisky, ecommerce capability, enhanced international distribution and new product development. Annual sales could reach £11m by 2029. The company has combined with the Royal Botanical Gardens at Kew to produce Kew Gardens Gin. Previously this gin was produced by London Distillery, which has been bought out of administration by Aquis-quoted British Honey.
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Derbyshire-based White Peak Distillery has raised £1m via Crowdcube, double its initial target, which will help it to launch its first whisky. The current product range includes gin and rum. The offer is set to close on 23 April.
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Grocery delivery firm Grocemania has raised, via a Seedrs crowdfunding, the £80,000 it was seeking. The pre-money valuation was £1.1m. Grocemania offers a one hour delivery service of food and drink from local shops for as little as £2.50. The average order level is £25.85. The service covers parts of London and Brighton. The additional cash enables a further roll-out in London, as well as Bournemouth and Nottingham. This is the second time that the company has raised cash through Seedrs.
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Fightback Brewing Company hopes to raise £200,000 via Crowdcube to broaden its products’ availability in 900 music venues. A new national distribution agreement was secured last year. This will enable sales to be significantly increased and could help music venues to stay in business after a tough past 12 months. Management says that it will donate 50% of profit to the charity Music Venues Trust. The offer is eligible for EIS and SEIS. So far, £54,000 has been raised.
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Venture Capital Trusts raised £685m during 2020-21, up from £619,000 the previous year but just below the peak of £731m in 2018-19. More than three-fifths of the cash raised last year was invested after the New Year. There was £101m raised by AIM VCTs.

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