Robot harvest pickers and a digital identity platform grabbed investor consideration on the newest Dorset Business Angels (DBA) quarterly occasion.
Held on the Bournemouth Carlton Hotel, the viewers on the Dragons’ Den-style pitch first loved 40 minutes of networking and dialog earlier than getting all the way down to enterprise.
Five corporations had been in search of funding utilizing a hybrid of in-person and on-line pitches.
Each had a strict ten minutes to make a compelling case for funding, adopted by ten minutes of powerful questioning.
Three of the companies had been unsuccessful of their pitch on the night, failing to achieve any present investor curiosity.
The two profitable pitches had been:
- An organization specialising in robotics expertise, initially for agricultural settings, with a imaginative and prescient to ‘protect humans from poor pay and working conditions, increase productivity and reduce labour risk’.
Globally there’s a essential labour scarcity for farmers, leading to unharvested crops being left to rot. Without choosing capability, farmers are decreasing manufacturing, leading to important monetary losses.
The answer supplied by the pitching enterprise is a spread of robotic autos which utilise robotic arms with AI (synthetic intelligence) and a state-of-the-art navigation system.
It may be safely employed in agriculture, alongside human pickers, to reap quite a lot of crops.
The firm boasts a wealth of robotics expertise in its staff and says that its modern options are extraordinarily price efficient, with a system driving a three-year payback, in asparagus harvesting alone.
The market measurement was recognized, initially focusing on hand-picked crops in areas with growing human labour danger, equivalent to grape choosing – there’s a £5 billion choosing price of non-wine grapes globally – flower choosing (£0.5bn) and asparagus choosing (£117m).
The enterprise was in search of £500,000, with a pre-money valuation of £2,500,000, to allow it to turn out to be income producing inside 12 months.
Six expressions of curiosity had been made.
- An organization which presents a digital identity platform.
One of the business’s largest issues continues to be the guide gathering, updating, and sharing of company info for enterprise due diligence.
The pitching enterprise offers a system that permits corporates to create a digital identity by facilitating the permission/authorised sharing of due diligence credentials which are verified and danger assessed by regulated establishments.
The enterprise defined how current compliance processes are prolonged, cumbersome and repetitive, needing to be repeated for each shopper, yearly.
It additionally appeared on the points when due diligence is damaged.
The skilled staff behind the digital identity platform was launched, all with a observe file of constructing RegTech options.
The energy behind the platform was defined in addition to how the enterprise is responding to robust market demand with potential purchasers such because the Crown Commercial Service, PWC, Chubb, Linklaters and Accenture.
A paid pilot is ongoing with regulation agency Webber Wentzel.
Raising £500,000 to make the platform ‘the industry agnostic and ready to scale across Europe’ 4 expressions of curiosity had been obtained.
The unsuccessful pitches had been:
- A meal supply service for companies
- A digital platform bringing collectively components of fan fiction, gaming, multimedia streaming & traditional storytelling
- A platform combining the capabilities of a number of apps, devoted to group bookings, aiming to simplify organising nights out with mates
While no expressions had been obtained for these pitches on the night they might get curiosity subsequently from the broader DBA membership and subscribers.
DBA additionally welcomed Rob Jones, Senior Investment Director from sponsor Investec Wealth and Investment, who gave a quick however knowledgeable presentation on ‘Responses to increased market volatility’.
Don McQueen, DBA Chairman, pictured left, stated: “It was nice to welcome a bunch of such skilled and excessive calibre buyers.
“There was lots of interesting and insightful questioning, with investors drawing on their individual sector experience to probe further.”
DBA is sponsored by Saffery Champness chartered accountants, Ellis Jones Solicitors and Investec Wealth and Investment.
Gallery – photos by Kate Shaw, KTPR