YoungPlanet secures £500k through a Crowdcube crowdfunding campaign to accelerate national growth and enhance app features.
"YoungPlanet’s mission has been to help parents become more sustainable, and we’re overjoyed that our investors and community members have chosen to invest in this journey with us. Being overfunded within the first 7 hours of our crowdfunding campaign going live was a huge success, and to see that we have overachieved our funding goals by 56% to raise over half a million, shows just how many people believe in our mission."
The funding round was led by Sova VC with participation from the SidebySide Partnership.
"We’ve never focused on the kind of ‘growth at any cost’ expansion that other on-demand businesses have and our approach to fundraising reflects this. We bootstrapped for the first few years of our operation and didn’t raise our Seed round until we were confident in our model. That’s why this is a really exciting chapter for us. We’re raising this Series A because it’s the right time to focus on more rapid expansion and the round will enable us to consolidate our position as the best on-demand laundry platform in the market. We’re delighted that Sova VC has led this round and we’re looking forward to working with them closely over the coming months and years."
The Series A round was led by Artesian Investments to expand the digital instruction platform.
"This investment represents an incredibly exciting step towards our vision to become the de facto product to improve skiing technique. Skiing is a difficult sport to learn, and 88% of skiers stop lessons after less than 1 week – Carv offers a convenient and fun experience to continue learning. The pandemic has only accelerated the adoption of Carv’s digital ski instruction with us seeing over a 100% year-on-year growth for 2020 Q4. We are excited to be rapidly expanding our user base as the additional data helps us build an ever better coaching system. We are proud to welcome back our existing investors and see their continued support for our vision to deliver digital sports coaching. This is just the start for Carv, and we look forward to the next stage of growth and innovation."
