The oversubscribed seed round was led by Octopus Ventures with backing from Goodwater Capital, Y Combinator, Calm Storm Ventures and Bethnal Green Ventures.
"Tinnitus currently affects around 50 million people in the US and UK, of which 20 million have intrusive tinnitus, a condition that can severely impact an individual’s life. For many this is a condition that they have little choice but to ‘learn to live with’. The Oto team, however, refuse to habituate and instead are providing a 10x cheaper and more convenient way to help people manage their condition. Though they probably don’t complain, we all know someone who suffers from tinnitus and have seen the effects it can have on an individual’s life. This is one of the reasons we wanted to support George, Ed and the entire Oto team as they tackle the market and provide an innovative digital solution to a long overlooked issue"
The investment round was led by 24Haymarket to support the company's growth plans and product expansion.
"This new investment is testament to what we have achieved so far at Hypetex and I’m excited about the future with Neil and Nick involved at the core of the company. The composites market is growing at a rapid pace and we are well-positioned to accelerate the use of our coloured advanced materials and be a key part of that as we develop exciting new product streams for the sector."
The pre-Series A round was backed by Alchemmy, the Future Fund, and angel investors.
"We are thrilled to have successfully closed this latest funding round with a great thanks to our investors. When thinking of data, people most often think of engineers, developers and IT teams using and manipulating that data with little to no input from the wider business, but people need to think beyond this limiting view. Using this important data to create a visual intelligence ecosystem that can be understood and accessed by every working individual is the key to untold improvements and will be beneficial game-changing for any organisation."
The seed round was backed by Launch Africa, Founders Factory Africa, Hoaq Club, and angel investors.
"In 2018, I sent about $3000 back home to Nigeria. I thought I got the best deal on that transaction until about two weeks later when someone informed me I could have saved up to $30 in fees on that transaction if I had used a different provider. I was livid,"
