Col8 completes SEIS investment from Jenson funding partners and selected angel investors
Col8 are pleased to announce our first external investment round closed earlier this month, filled by the Jenson SEIS fund and selected angel investors. As well as investment Jenson will also be joining Col8’s board of directors.
This is an important step for Col8. Our early development and market exploration phase was completely founder funded. Our investors are backing us to solidify both the product and proposition within the defence and security market.
We have come a long way from the first iteration of our product, which was designed to help sports people get the most from their action camera footage. After we developed our core technology and started using it ourselves, we saw its potential to solve problems using video in other markets too. We realised that finding specific pieces of footage in video was hard for businesses as well as consumers.
The choice to move our attention from consumer to business was not an easy one to make. It meant shifting the company and brand focus that we had been working on since the beginning. Anyone that has pivoted a business will know how hard this can be.
After some early work looking at applying our technology in the Subsea and Oil & Gas sectors we knew there were places our technology could make an immediate difference. Around this time we were talking to Jenson about investment, but they also helped us out with guidance and contacts in industry. This helped us all feel confident in our future direction and that they’d be the right investor for us.
We spoke recently about our partnership to enter the defence and security space with Techmodal, a Bristol based consultancy firm. This has helped give us our focus for this phase of the business and already some very exciting applications are coming from this relationship.
We look forward to working alongside our investors over the coming years and are very excited to start this new chapter in Col8’s history.