Liverpool based tech startup cofoundery Nova have increased their crowdfunding target after smashing their original £600,000 goal with 9 days of the campaign still to run. Backed by notable investors including Sir Terry Leahy and Bill Currie Nova’s unique business model, that’s based on shared equity in startups rather than the typical service for a fee approach, has proved hugely popular with investors who now have the opportunity to increase their investment in the fast growing business.
To date Nova have successfully built and launched over 70 tech startups, with a portfolio value growth of more than 80% year on year for the past 10 years. Through Nova’s programme startup founders have raised over £10m and gone on to create a range of ingenious tech businesses that include everything from a Dungeons & Dragons inventory app, a baby monitoring wearable for expectant mums and a hand hygiene monitoring system for Hospitals.
The successful crowdcube campaign has already raised over £640,000 and continues to run until the 15th December for new and existing investors alike. Funds raised will facilitate plans for Nova to set up new offices within several of the UK’s under supported startup ecosystems, as well as launching pilots of their programme in international territories including Singapore and Kuala Lumpur.
Andy Davidson, CEO explained:
“We believe that empowering more people to build successful tech businesses is a fantastic thing, not just for us and our investors, but also the founders, the people who use our products and ultimately the economies of where we set these businesses up. We’ve got some really exciting plans for what we want to do with this funding and we hope that people will take up the opportunity to invest over the coming days and join us on this journey.
We’re operating in such an exciting sector of the market that’s seen phenomenal growth over the past 10 years, and from an investment point of view it’s something that's typically confined to a select few that are typically Angels, fund managers or serious high net worth individuals. Through this campaign we wanted to open this up and allow more people to own a share of Nova. We’ve been completely overwhelmed by the response so far.”
"We are fundamentally changing the way that startups are founded, funded and scaled"
Andy Davidson, Nova CEO
DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.