Tended secures £1.2m in equity and grant funding from Blackfinch Ventures and Innovate UK
The Lincoln technology start-up raised the capital through Minerva Business Angels and Innovate UK.
£1.2MSeed
Lincoln-based Tended has developed a wearable geospatial safety solution that alerts rail workers when they leave designated safe zones.
Tended has secured £1.2m in equity and grant funding through a seed follow on round. The financing comprises £935k raised via Minerva Business Angels, which included an £810k investment from Blackfinch Ventures, alongside an additional £221k grant from Innovate UK. The capital will support the company as it advances its intelligent safety technology and expands market presence.
From the founder
"After seeing Tended pitch a couple of times at Minerva events, one of Blackfinch Ventures directors expressed an interest in investing. Initially, I thought it was just him acting as an individual Angel, so when I heard the investment was to be through Blackfinch and they were interested in investing £810k, it came as quite a shock! It also came at just the right time as we had a number of very exciting opportunities opening up, which required a much larger cash injection than previously anticipated."
LS
Leo Scott Smith
CEO and founder at Tended
Investor perspective
"We are absolutely delighted to have helped Tended secure such a significant investment, supporting their growth and creating new high-tech jobs in Lincolnshire."
AT
Alex Toft
Head of Minerva, Minerva Business Angels
