• Recent coverage on the BBC has focused on UK technology companies, and has posed the question of whether the UK can compete in the global technology industry. One only has to think of Google and Facebook to realise how far behind the US we are in the UK. Where are the UK’s world leading technology giants, and what more must we do to support them?A number of tech entrepreneurs as well as investment specialist have offered their views on what they believe the problem is. Not surprisingly, the common theme amongst them is the struggle that businesses face for funding. However, and perhaps surprisingly, the problem doesn’t lie with seed and start-up capital. In the UK we are actually very good at nurturing small businesses, and the government and organisations such as the NHS have worked hard to support innovation and university spin outs, particularly in the sectors that the UK is strongest in, including life science, healthcare and technology. Instead, the problem is later in the life cycle of these businesses, when they move on to commercialising the product or service that they have built. They need to scale up to meet the demand that they have created, as well as having the fire-power to break into new markets. Neil Woodford, who set up his Patient Capital fund to invest in UK venture was quoted by the BBC this week responding to a question about scale up capital:"We have been appallingly bad at giving those minnows the long-term capital they need" Why then do they struggle to attract investment? The answer is quite simply because the UK’s fund management industry has no place for venture in its portfolios. A thriving, high growth technology company is considered far too risky. As long as this attitude holds sway, the evolution of the UK tech sector will be impeded. We have observed this over the last 10 years, as we have watched a gap open up between the early seed and start up rounds and the later Series A or first institutional investment round. Where not so long ago a Series A might have closed within 3-4 years of seed funding, it is now more likely to be 5-7 years afterwards, if that soon. It is precisely at this stage, what we have termed the “bridge to Series A stage”, that Juno focuses its investment activity. The businesses we are working with are not struggling, far from it. These companies are selected by us for (a) generating more than £1m of annual recurring revenue and (b) growing at unprecedented rates, often with revenue growth in excess of 100%, year on year. Working with Swansea University’s School of Management, Juno has been involved in research to understand why the gatekeepers to the UK’s personal wealth are not supporting venture as effectively as they might. It is a serious problem and our research has left us in little doubt that until the investment industry, specifically IFAs and fund managers, consider an allocation to later stage commercialisation, or scale up stage venture in their portfolios, the UK venture industry will continue to struggle for funding to support growth to any significant scale. The UK government’s EIS regime has, to a meaningful degree, facilitated the evolution of a world-leading entrepreneurial sector at the start up stage by off-setting an element of the perceived risk against tax relief. Similar policy making focused on the scale up stage is now required to support the development of that sector to maturity. If the fiscal and regulatory incentives are in place for investors, there seems little doubt that British innovation will be well-placed to compete on the global stage and perhaps then we will see our own Google, Facebook or Uber. Dr Julian HickmanPartnerJuno Capital LLP@junocapitalwww.junocapital.co.uk
    897 Posted by administrator
  • Recent coverage on the BBC has focused on UK technology companies, and has posed the question of whether the UK can compete in the global technology industry. One only has to think of Google and Facebook to realise how far behind the US we are in the UK. Where are the UK’s world leading technology giants, and what more must we do to support them?A number of tech entrepreneurs as well as investment specialist have offered their views on what they believe the problem is. Not surprisingly, the common theme amongst them is the struggle that businesses face for funding. However, and perhaps surprisingly, the problem doesn’t lie with seed and start-up capital. In the UK we are actually very good at nurturing small businesses, and the government and organisations such as the NHS have worked hard to support innovation and university spin outs, particularly in the sectors that the UK is strongest in, including life science, healthcare and technology. Instead, the problem is later in the life cycle of these businesses, when they move on to commercialising the product or service that they have built. They need to scale up to meet the demand that they have created, as well as having the fire-power to break into new markets. Neil Woodford, who set up his Patient Capital fund to invest in UK venture was quoted by the BBC this week responding to a question about scale up capital:"We have been appallingly bad at giving those minnows the long-term capital they need" Why then do they struggle to attract investment? The answer is quite simply because the UK’s fund management industry has no place for venture in its portfolios. A thriving, high growth technology company is considered far too risky. As long as this attitude holds sway, the evolution of the UK tech sector will be impeded. We have observed this over the last 10 years, as we have watched a gap open up between the early seed and start up rounds and the later Series A or first institutional investment round. Where not so long ago a Series A might have closed within 3-4 years of seed funding, it is now more likely to be 5-7 years afterwards, if that soon. It is precisely at this stage, what we have termed the “bridge to Series A stage”, that Juno focuses its investment activity. The businesses we are working with are not struggling, far from it. These companies are selected by us for (a) generating more than £1m of annual recurring revenue and (b) growing at unprecedented rates, often with revenue growth in excess of 100%, year on year. Working with Swansea University’s School of Management, Juno has been involved in research to understand why the gatekeepers to the UK’s personal wealth are not supporting venture as effectively as they might. It is a serious problem and our research has left us in little doubt that until the investment industry, specifically IFAs and fund managers, consider an allocation to later stage commercialisation, or scale up stage venture in their portfolios, the UK venture industry will continue to struggle for funding to support growth to any significant scale. The UK government’s EIS regime has, to a meaningful degree, facilitated the evolution of a world-leading entrepreneurial sector at the start up stage by off-setting an element of the perceived risk against tax relief. Similar policy making focused on the scale up stage is now required to support the development of that sector to maturity. If the fiscal and regulatory incentives are in place for investors, there seems little doubt that British innovation will be well-placed to compete on the global stage and perhaps then we will see our own Google, Facebook or Uber. Dr Julian HickmanPartnerJuno Capital LLP@junocapitalwww.junocapital.co.uk
    Sep 20, 2016 897
  • Your existing marketing playbook just isn’t performing anymore. People are ignoring your ads, few users are clicking through, conversions are dropping. It’s getting harder and harder to acquire new customers every day.   Buyapowa’s Head of Product, James Grant, has the answer: alt acquisition. If you came to our event in April 2016, you’ll have seen his fantastic keynote address, explaining the science behind those diminishing returns and exploring alternative ways to supplement your acquisition - complete with compelling examples from Betty Crocker, via Ryanair right up to Tesla.   If you missed it, don’t worry. You can see the video that got everyone talking above.   Enjoy the video!
    633 Posted by administrator
  • Your existing marketing playbook just isn’t performing anymore. People are ignoring your ads, few users are clicking through, conversions are dropping. It’s getting harder and harder to acquire new customers every day.   Buyapowa’s Head of Product, James Grant, has the answer: alt acquisition. If you came to our event in April 2016, you’ll have seen his fantastic keynote address, explaining the science behind those diminishing returns and exploring alternative ways to supplement your acquisition - complete with compelling examples from Betty Crocker, via Ryanair right up to Tesla.   If you missed it, don’t worry. You can see the video that got everyone talking above.   Enjoy the video!
    May 10, 2016 633
  • 26th April 2016, Belfast and Cambridge, UK: Queen's University Belfast and Domainex Ltd. announced today that they have secured a late-stage award from the Wellcome Trust Seeding Drug Discovery scheme to advance therapeutic candidate molecules into clinical evaluation for treatment of non-small cell lung carcinoma (NSCLC).   The cell death regulatory protein FLIP is believed to be a key regulator of tumour cell survival that promotes tumour growth and resistance to standard therapies. The award will allow the partners to accelerate the optimisation and early development of first-in-class small molecule inhibitors that block FLIP's pro-survival functions. The inhibitors invented by the team have already shown efficacy in pre-clinical models of NSCLC, a disease that represents around 90% of all lung cancers diagnosed and accounts for the highest rate of cancer death worldwide, with over one million deaths annually.   This next phase of the collaboration will allow the completion of pre-clinical studies and progression of the inhibitors to first in human phase 1 clinical evaluation following regulatory approval. Trevor Perrior, Research Director at Domainex, commented: “We are delighted to continue our successful partnership with Dr. Daniel Longley, Prof. Timothy Harrison and their team at Queen's University Belfast. The additional funding secured from the Wellcome Trust is a clear endorsement of the strength of the integrated drug discovery platform of Domainex to deliver compounds with the potential to provide life-changing treatments for serious diseases. Domainex will continue to provide its expertise in medicinal chemistry, ADME and physicochemical profiling. We remain deeply committed to supporting academic translational research. We look forward to working further with Dan, Tim and their colleagues to take our jointly-discovered compounds into patients.”   Dr Daniel Longley added: “Resistance to current treatments for non-small cell lung cancer and other cancers is a major clinical problem. Our work at Queen's has demonstrated that FLIP is frequently overexpressed in non-small cell lung cancer and other cancers and that this promotes resistance to chemotherapy. More recently, we have found that FLIP also promotes resistance to radiotherapy. Targeting FLIP directly is extremely challenging; however, by combining our understanding of the biology of FLIP with the expertise of the team at Domainex, we have now developed first-in-class small-molecule FLIP inhibitors that this award from the Wellcome Trust will enable us to take all the way into clinical evaluation in patients”.   - ENDS -   Editors Notes   Cancer Research at Queen's University Belfast   The Centre for Cancer Research and Cell Biology (CCRCB) was developed with the explicit aim of translating basic scientific programmes into the clinical arena and is a dynamic research Centre within the School of Medicine, Dentistry and Biomedical Sciences in Queen's University Belfast. Adjacent to the Northern Ireland Clinical Cancer Centre on the Belfast City Hospital campus, CCRCB is the first Comprehensive Cancer Centre in Ireland and is one of 15 Cancer Research UK (CRUK) designated Centres of Excellence in the UK. The Centre was also awarded Experimental Cancer Medicine Centre (ECMC) status, one of 18 such UK Centres. For further information on our research programmes, please visit the CCRCB website: www.qub.ac.uk/ccrcb/.   About Domainex   Established in 2001, Domainex Ltd. is a privately owned, rapidly growing Cambridge, UK-based small-molecule, integrated drug discovery company that provides services to pharmaceutical, biotechnology and academic partners globally. Services cover a wide span of the drug discovery process, from disease target validation to pre-clinical candidate nomination. Domainex's services include recombinant protein expression and use of its proprietary technology platform, Combinatorial Domain Hunting to identify soluble protein fragments for structural, biophysical and bioassay uses. Hit finding activities encompass assay development and screening utilising its BioassayBuilder and LeadBuilder portfolios. The core of the service platform is undertaking multi-parameter medicinal chemistry optimisation of hits and leads under the mantra ‘every compound counts', which can save up to 30% of average industry time.   Domainex will be moving to a new facility at Chesterford Research Park near Cambridge in summer 2016. The new facility will provide a near three-fold increased footprint and allow it to continue its growth strategy focused on providing best-in-class drug discovery services utilising its proprietary technology platforms and in-depth expertise of its skilled employees.   For more information please visit www.domainex.co.uk   About the Wellcome Trust   The Wellcome Trust is a global charitable foundation dedicated to improving health. We support bright minds in science, the humanities and the social sciences, as well as education, public engagement and the application of research to medicine. Our investment portfolio gives us the independence to support such transformative work as the sequencing and understanding of the human genome, research that established front-line drugs for malaria, and Wellcome Collection, our free venue for the incurably curious that explores medicine, life and art. www.wellcome.ac.uk   Media Enquiries   For Domainex, please contact: Trevor Perrior Research Director Domainex Trevor.Perrior@domainex.co.uk Tel: +44(0)1223 743170   Deborah Cockerill Sciad Communications deborah@sciad.com Tel: +44 (0)79 3031 7729   For Queen's University Belfast, please contact: Communications Office comms.office@qub.ac.uk Tel: +44 (0)20 9079 3091
    960 Posted by administrator
  • 26th April 2016, Belfast and Cambridge, UK: Queen's University Belfast and Domainex Ltd. announced today that they have secured a late-stage award from the Wellcome Trust Seeding Drug Discovery scheme to advance therapeutic candidate molecules into clinical evaluation for treatment of non-small cell lung carcinoma (NSCLC).   The cell death regulatory protein FLIP is believed to be a key regulator of tumour cell survival that promotes tumour growth and resistance to standard therapies. The award will allow the partners to accelerate the optimisation and early development of first-in-class small molecule inhibitors that block FLIP's pro-survival functions. The inhibitors invented by the team have already shown efficacy in pre-clinical models of NSCLC, a disease that represents around 90% of all lung cancers diagnosed and accounts for the highest rate of cancer death worldwide, with over one million deaths annually.   This next phase of the collaboration will allow the completion of pre-clinical studies and progression of the inhibitors to first in human phase 1 clinical evaluation following regulatory approval. Trevor Perrior, Research Director at Domainex, commented: “We are delighted to continue our successful partnership with Dr. Daniel Longley, Prof. Timothy Harrison and their team at Queen's University Belfast. The additional funding secured from the Wellcome Trust is a clear endorsement of the strength of the integrated drug discovery platform of Domainex to deliver compounds with the potential to provide life-changing treatments for serious diseases. Domainex will continue to provide its expertise in medicinal chemistry, ADME and physicochemical profiling. We remain deeply committed to supporting academic translational research. We look forward to working further with Dan, Tim and their colleagues to take our jointly-discovered compounds into patients.”   Dr Daniel Longley added: “Resistance to current treatments for non-small cell lung cancer and other cancers is a major clinical problem. Our work at Queen's has demonstrated that FLIP is frequently overexpressed in non-small cell lung cancer and other cancers and that this promotes resistance to chemotherapy. More recently, we have found that FLIP also promotes resistance to radiotherapy. Targeting FLIP directly is extremely challenging; however, by combining our understanding of the biology of FLIP with the expertise of the team at Domainex, we have now developed first-in-class small-molecule FLIP inhibitors that this award from the Wellcome Trust will enable us to take all the way into clinical evaluation in patients”.   - ENDS -   Editors Notes   Cancer Research at Queen's University Belfast   The Centre for Cancer Research and Cell Biology (CCRCB) was developed with the explicit aim of translating basic scientific programmes into the clinical arena and is a dynamic research Centre within the School of Medicine, Dentistry and Biomedical Sciences in Queen's University Belfast. Adjacent to the Northern Ireland Clinical Cancer Centre on the Belfast City Hospital campus, CCRCB is the first Comprehensive Cancer Centre in Ireland and is one of 15 Cancer Research UK (CRUK) designated Centres of Excellence in the UK. The Centre was also awarded Experimental Cancer Medicine Centre (ECMC) status, one of 18 such UK Centres. For further information on our research programmes, please visit the CCRCB website: www.qub.ac.uk/ccrcb/.   About Domainex   Established in 2001, Domainex Ltd. is a privately owned, rapidly growing Cambridge, UK-based small-molecule, integrated drug discovery company that provides services to pharmaceutical, biotechnology and academic partners globally. Services cover a wide span of the drug discovery process, from disease target validation to pre-clinical candidate nomination. Domainex's services include recombinant protein expression and use of its proprietary technology platform, Combinatorial Domain Hunting to identify soluble protein fragments for structural, biophysical and bioassay uses. Hit finding activities encompass assay development and screening utilising its BioassayBuilder and LeadBuilder portfolios. The core of the service platform is undertaking multi-parameter medicinal chemistry optimisation of hits and leads under the mantra ‘every compound counts', which can save up to 30% of average industry time.   Domainex will be moving to a new facility at Chesterford Research Park near Cambridge in summer 2016. The new facility will provide a near three-fold increased footprint and allow it to continue its growth strategy focused on providing best-in-class drug discovery services utilising its proprietary technology platforms and in-depth expertise of its skilled employees.   For more information please visit www.domainex.co.uk   About the Wellcome Trust   The Wellcome Trust is a global charitable foundation dedicated to improving health. We support bright minds in science, the humanities and the social sciences, as well as education, public engagement and the application of research to medicine. Our investment portfolio gives us the independence to support such transformative work as the sequencing and understanding of the human genome, research that established front-line drugs for malaria, and Wellcome Collection, our free venue for the incurably curious that explores medicine, life and art. www.wellcome.ac.uk   Media Enquiries   For Domainex, please contact: Trevor Perrior Research Director Domainex Trevor.Perrior@domainex.co.uk Tel: +44(0)1223 743170   Deborah Cockerill Sciad Communications deborah@sciad.com Tel: +44 (0)79 3031 7729   For Queen's University Belfast, please contact: Communications Office comms.office@qub.ac.uk Tel: +44 (0)20 9079 3091
    Apr 26, 2016 960
  • I was chatting with one of our VC Fund co-investors the other day, mostly about how we might collaborate more closely given that we have already co-invested twice (in Idio and Volo Commerce). It was particularly fascinating that we have very similar investment interests with the key differences boiling down to the requirements of fund investing compared to syndicate investing.   The most fundamental difference between a Syndicate and a Fund is that a Syndicate has many diverse clients with a wide variety of investment appetites and portfolios; while a Fund manager refers to one investment mandate only, which can lead to different decisions in any given scenario.   I had meant to write about this for some time because I am often having to counter the assumption that we are only hoping that 1 or 2 out of 10 of our investments will drive high overall returns. While some Funds adopt this strategy, this is not how the Juno Syndicate operates, and I would argue it should never be the strategy of any Syndicate.   Another way of looking at this is for us to consider the conversations we have with our clients. Rarely if ever do they ask “How is my portfolio performing?”. They are, however, keen to hear about the progress of individual portfolio companies. They have favourites and those where they have invested more than others. While we provide the best available investment opportunities, they are ultimately responsible for their portfolio construction.   We base our investment decisions on the case for each investment. We cannot afford to take excessive risk with a particular investment, as this might form 50% of a clients’ portfolio with us.   A Fund has only one portfolio to consider. Its Limited Partners (investors in the Fund) are concerned with overall performance as they have only made one investment decision. They acknowledge that the Fund might take a series of smaller higher risk bets and back those that show the most promise with a larger share of the Fund’s resources (management and cash). This strategy is entirely rational – allocate resources where it will be most financially rewarding.   The starkest manifestation of this strategy is in biotech. A specialist biotech Fund will make a series of near binary investment bets (huge returns or bust) which are highly risky individually, but if well enough diversified in a Fund, the overall portfolio can have a satisfactory overall risk/reward ratio. Here are some ways in which this difference shows itself:   The Fund size will dictate the minimum % a Fund needs to own in each portfolio company. As Syndicate investors, we are not constrained in this way.   A Fund is more likely to ‘abandon’ one of its portfolio companies if it feels that it can deploy its capital better elsewhere. There is unofficial competition between companies within a Fund’s portfolio for the follow-on money. Private clients are less likely to be so hard-heartedly rational and may follow an investment if there is still promise.   Time is money. Fund managers are rewarded for achieving a high internal rate of return (IRR). This consideration will dictate how they manage the timing and sequence of exits. Private investors have no master and so are more concerned with absolute returns from each of their investments.   All this is not intended to imply that private venture investors do not or should not be very mindful of how they build a portfolio. I’ll write another blog on that shortly. However, I hope that I have shown how the needs and demands of our clients drive the different investment decisions. Happily, despite these, we can more often than not align our interests and gain mutual benefit.   Has this piece raised further questions for you which I have not addressed? Do you see the distinctions differently? Are you interested in understanding more about how such diverse interests can collaborate effectively? Perhaps having read this you would like to attract investment from the Juno Syndicate. If so, please do leave a comment or contact me directly https://www.junocapital.co.uk/pages/edward-rudd
    1400 Posted by administrator
  • I was chatting with one of our VC Fund co-investors the other day, mostly about how we might collaborate more closely given that we have already co-invested twice (in Idio and Volo Commerce). It was particularly fascinating that we have very similar investment interests with the key differences boiling down to the requirements of fund investing compared to syndicate investing.   The most fundamental difference between a Syndicate and a Fund is that a Syndicate has many diverse clients with a wide variety of investment appetites and portfolios; while a Fund manager refers to one investment mandate only, which can lead to different decisions in any given scenario.   I had meant to write about this for some time because I am often having to counter the assumption that we are only hoping that 1 or 2 out of 10 of our investments will drive high overall returns. While some Funds adopt this strategy, this is not how the Juno Syndicate operates, and I would argue it should never be the strategy of any Syndicate.   Another way of looking at this is for us to consider the conversations we have with our clients. Rarely if ever do they ask “How is my portfolio performing?”. They are, however, keen to hear about the progress of individual portfolio companies. They have favourites and those where they have invested more than others. While we provide the best available investment opportunities, they are ultimately responsible for their portfolio construction.   We base our investment decisions on the case for each investment. We cannot afford to take excessive risk with a particular investment, as this might form 50% of a clients’ portfolio with us.   A Fund has only one portfolio to consider. Its Limited Partners (investors in the Fund) are concerned with overall performance as they have only made one investment decision. They acknowledge that the Fund might take a series of smaller higher risk bets and back those that show the most promise with a larger share of the Fund’s resources (management and cash). This strategy is entirely rational – allocate resources where it will be most financially rewarding.   The starkest manifestation of this strategy is in biotech. A specialist biotech Fund will make a series of near binary investment bets (huge returns or bust) which are highly risky individually, but if well enough diversified in a Fund, the overall portfolio can have a satisfactory overall risk/reward ratio. Here are some ways in which this difference shows itself:   The Fund size will dictate the minimum % a Fund needs to own in each portfolio company. As Syndicate investors, we are not constrained in this way.   A Fund is more likely to ‘abandon’ one of its portfolio companies if it feels that it can deploy its capital better elsewhere. There is unofficial competition between companies within a Fund’s portfolio for the follow-on money. Private clients are less likely to be so hard-heartedly rational and may follow an investment if there is still promise.   Time is money. Fund managers are rewarded for achieving a high internal rate of return (IRR). This consideration will dictate how they manage the timing and sequence of exits. Private investors have no master and so are more concerned with absolute returns from each of their investments.   All this is not intended to imply that private venture investors do not or should not be very mindful of how they build a portfolio. I’ll write another blog on that shortly. However, I hope that I have shown how the needs and demands of our clients drive the different investment decisions. Happily, despite these, we can more often than not align our interests and gain mutual benefit.   Has this piece raised further questions for you which I have not addressed? Do you see the distinctions differently? Are you interested in understanding more about how such diverse interests can collaborate effectively? Perhaps having read this you would like to attract investment from the Juno Syndicate. If so, please do leave a comment or contact me directly https://www.junocapital.co.uk/pages/edward-rudd
    Apr 05, 2016 1400
  • Purple WiFi, the UK-based WiFi social login and location analytics platform today announced new funding to accelerate its rapid international expansion. The $5m funding was led by Sir Terry Leahy, Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group with participation from Juno Capital a leading Angel Syndicate. Purple WiFi allows users to gain free access to a public WiFi network through their existing social media accounts or a short form. The user gets access to family friendly WiFi, while the benefit to the business hosting the service (such as a restaurant, hotel, shop, museum, sports stadium or shopping mall) is that they are rewarded with valuable analytic insights into the profiles and movements of their customers and a sophisticated built-in marketing platform.Purple WiFi have also appointed new board members as part of the process, including: Sir Terry Leahy, former Tesco CEO who took the retailer from the third largest in the UK to the third largest retailer in the world, launching the Clubcard during his tenure; and Ian Kelly, Serial Entrepreneur in Telecoms, Energy and other markets.The large scale investment interest from both the retail and telecoms sectors demonstrates a recognition of the value and potential for WiFi in these verticals; incorporating the future of shopping, showrooming and enhancing customer experiences in-store for retail, and telecoms recognising the need for valid data offload solutions.Additional investors include: Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group; Jonathan Hammond and Steve Ashton from the beverage distribution industry; Juno Capital a leading Angel Syndicate, including high profile investors such as Sir Nigel Rudd, Chairman at Heathrow Airport Holdings Limited (formerly BAA) and formerly Chairman Alliance Boots, and three senior Ernst and Young partners, who facilitated the round.Purple WiFi was originally established due to a recognition of the world’s growing need for fast, free public WiFi. The service has been purposefully designed to be user friendly, to be technology ‘agnostic’, cloud based and scalable across geographic boundaries. It meets the growing user demand for fast, secure WiFi enabled spaces, with the added value of giving something back to the company who invested in the WiFi.Purple WiFi’s social media authentication covers an extensive number of global social networks, including Facebook, Twitter, Google and Instagram, with Chinese Weibo and Russian VKontakte coming soon. The login journey and analytics platform auto-translates into 18 languages.Thousands of venues globally have already been secured, with strongholds in Europe, Asia-pac and the Americas. Deep technology partnerships have already been established, most notably with Cisco, Verizon, Telstra and Vodafone, but also many others. A channel organisation, Purple WiFi have distribution agreements with Ingram Micro and Westcon Comstor who are the two biggest in the world, along with a number of country specific ones.Sir Terry Leahy, former Tesco CEO, comments: “Having been in the retail space for many years, I have seen how technology has and will continue to revolutionise the industry. Purple WiFi is a brilliant example of how additional value can be driven from an existing infrastructure. I’ve been incredibly impressed with what Gavin and the team have achieved to date. I very much look forward to helping them drive global expansion and adoption.”Gavin Wheeldon, CEO, Purple WiFi comments:  “WiFi is something that is expected, for free, just as we expect access to heat, light and water. But the big question in recent years has been how to monetise WiFi. Purple WiFi has created an innovative low cost solution that gives unprecedented analytics and insights, whilst driving true ROI for businesses. We have seen unimaginable interest and demand for the product, not just within the obvious sectors of retail, leisure and hospitality, but also unexpected sectors such as social housing, education and healthcare, where they want to use WiFi to communicate better and deliver services. I’m absolutely delighted with this new investment and expertise, which will help us accelerate our product feature set and further build out the team that I am already very proud of.”
    1858 Posted by administrator
  • Purple WiFi, the UK-based WiFi social login and location analytics platform today announced new funding to accelerate its rapid international expansion. The $5m funding was led by Sir Terry Leahy, Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group with participation from Juno Capital a leading Angel Syndicate. Purple WiFi allows users to gain free access to a public WiFi network through their existing social media accounts or a short form. The user gets access to family friendly WiFi, while the benefit to the business hosting the service (such as a restaurant, hotel, shop, museum, sports stadium or shopping mall) is that they are rewarded with valuable analytic insights into the profiles and movements of their customers and a sophisticated built-in marketing platform.Purple WiFi have also appointed new board members as part of the process, including: Sir Terry Leahy, former Tesco CEO who took the retailer from the third largest in the UK to the third largest retailer in the world, launching the Clubcard during his tenure; and Ian Kelly, Serial Entrepreneur in Telecoms, Energy and other markets.The large scale investment interest from both the retail and telecoms sectors demonstrates a recognition of the value and potential for WiFi in these verticals; incorporating the future of shopping, showrooming and enhancing customer experiences in-store for retail, and telecoms recognising the need for valid data offload solutions.Additional investors include: Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group; Jonathan Hammond and Steve Ashton from the beverage distribution industry; Juno Capital a leading Angel Syndicate, including high profile investors such as Sir Nigel Rudd, Chairman at Heathrow Airport Holdings Limited (formerly BAA) and formerly Chairman Alliance Boots, and three senior Ernst and Young partners, who facilitated the round.Purple WiFi was originally established due to a recognition of the world’s growing need for fast, free public WiFi. The service has been purposefully designed to be user friendly, to be technology ‘agnostic’, cloud based and scalable across geographic boundaries. It meets the growing user demand for fast, secure WiFi enabled spaces, with the added value of giving something back to the company who invested in the WiFi.Purple WiFi’s social media authentication covers an extensive number of global social networks, including Facebook, Twitter, Google and Instagram, with Chinese Weibo and Russian VKontakte coming soon. The login journey and analytics platform auto-translates into 18 languages.Thousands of venues globally have already been secured, with strongholds in Europe, Asia-pac and the Americas. Deep technology partnerships have already been established, most notably with Cisco, Verizon, Telstra and Vodafone, but also many others. A channel organisation, Purple WiFi have distribution agreements with Ingram Micro and Westcon Comstor who are the two biggest in the world, along with a number of country specific ones.Sir Terry Leahy, former Tesco CEO, comments: “Having been in the retail space for many years, I have seen how technology has and will continue to revolutionise the industry. Purple WiFi is a brilliant example of how additional value can be driven from an existing infrastructure. I’ve been incredibly impressed with what Gavin and the team have achieved to date. I very much look forward to helping them drive global expansion and adoption.”Gavin Wheeldon, CEO, Purple WiFi comments:  “WiFi is something that is expected, for free, just as we expect access to heat, light and water. But the big question in recent years has been how to monetise WiFi. Purple WiFi has created an innovative low cost solution that gives unprecedented analytics and insights, whilst driving true ROI for businesses. We have seen unimaginable interest and demand for the product, not just within the obvious sectors of retail, leisure and hospitality, but also unexpected sectors such as social housing, education and healthcare, where they want to use WiFi to communicate better and deliver services. I’m absolutely delighted with this new investment and expertise, which will help us accelerate our product feature set and further build out the team that I am already very proud of.”
    Jan 27, 2016 1858
  • Juno Syndicate is pleased to announce that it has invested in Future Biogas Ltd alongside existing investors. Future Biogas specialises in the construction and operation of biogas plants for the UK...
    517 Posted by administrator
  • Juno Syndicate is pleased to announce that it has invested in Future Biogas Ltd alongside existing investors. Future Biogas specialises in the construction and operation of biogas plants for the UK...
    Jan 27, 2016 517