The London-based equity crowdfunding platform secured nearly three and a half times its original target from 909 investors.
"The response to our campaign was phenomenal. It was overwhelming enough to have reached our investment target in such a short amount of time, but to have achieved almost four-times the investment backing we sought, from our own community and beyond, is astonishing. We see this as a tremendous validation of both our model and our business and we want to thank everyone who has invested for joining us on our journey."
Index Ventures and JamJar Investments backed the mobile learning company to help grow its team and product features.
"We’re playing around with some interesting gamification ideas; the hope is that we can make exam preparation just slightly more bearable for students,"
The crowdfunding campaign was backed by private investors and business angels, including David Ryan.
"Psonar has certainly been a hit with our crowd! Their unique blend of music streaming and the pay-as-you-play model lowers the barrier to entry for music lovers who don’t fancy shelling out on hefty subscription models. There’s a huge audience of digital natives out there who’ve grown up with streaming, but expect to only pay for what they want, when they want it. For this audience, traditional models of ownership – e.g. buying tracks from the Apple Store – doesn’t cut it any more. We at SyndicateRoom are delighted to be part of Psonar’s exciting journey, and to have offered private investors the chance to invest in this exciting opportunity alongside experienced business angels – including 2013 Business Angel of the Year runner up David Ryan – who are putting their own money on the line"
The Belfast startup has closed a seed round backed by Halo and Co Fund NI.
"This has been a very exciting time for the company and this fresh investment will enable Taggled to scale up, increase headcount and fully launch our product in European and US markets in the near future. Our aim is to offer vloggers a simple, informative tool for creating dynamic and interactive content for their users and this funding will maximise our ability to do this."
