Envolve Tech raises £720k from Thorium Technology Investors and Angel Academe to scale operations.
Thorium Technology Investors led the seed round to support product improvements and meet rising demand.
Envolve Tech provides artificial intelligence powered virtual shopping assistant technology designed to help online retailers increase sales conversion. The company serves major brands across the United Kingdom and the United States.
Performance marketing technology provider Envolve Tech has secured £720k in a seed investment round led by Thorium Technology Investors. Additional backing came from the female angel investment network Angel Academe and private industry figures.
The capital arrives as the firm experiences surging demand driven by the acceleration of online shopping during the pandemic. The proceeds will be directed toward scaling operations and refining its virtual shopping assistant product.
The financing follows an oversubscribed round that surpassed its initial £325k target due to strong market interest.
From the founder
"Closing this round, especially at the higher than expected amount, provides Envolve Tech with a huge opportunity now."
Emma Smith
CEO at Envolve Tech
Investor perspective
"Envolve Tech is seeing a rapid uptake of its technology which is used to enhance and up sell clients using online chat services. TTI investors are delighted to lead this round to fund the company through this period of rapid global expansion as leading global brands deploy its technology."
Mike Bourne
Chairman, Thorium Technology Investors
Use of funds
- 01Continue product development
Investors
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About the company
Envolve Tech
Envolve Tech supplies artificial intelligence powered virtual shopping assistant software for online retailers.