Veo raises £300k from Solid Bond Venture Builder and Innovate UK to scale its ethical marketplace
The Manchester start-up secured private angel backing matched with a public grant to develop its platform and expand its team.
Veo operates an online marketplace that brings together ethical and sustainable independent brands for consumers.
Manchester-based e-commerce marketplace Veo has secured £300k in funding through angel investment and a public grant. The capital comprises £150k backed by Solid Bond Venture Builder alongside matched grant funding from Innovate UK via the Regional Angel Investment Accelerator programme. The business plans to direct the proceeds towards enhancing its platform technology, supporting marketing initiatives, covering operational expenses, and growing its headcount.
Established to connect conscious shoppers with independent ethical brands, Veo showcases more than 300 merchants meeting specific environmental and social criteria. The transaction follows a pitch showcase coordinated by NorthInvest and the Newcastle Angel Hub. The injection of capital has already allowed the start-up to create five new full-time positions as part of its wider expansion strategy.
Investor perspective
"We’re delighted to support Veo in securing this funding. The RAIA project is focussed on helping innovative Northern businesses secure finance for growth by attracting co-investment from Angels. Manchester and the wider North are a hotbed of innovation, and I’m delighted we‘ve been able to help another disruptive business grow their offer and reach new markets."
Jordan Dargue
Board Director, NorthInvest
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Scale operations
- 04Grow the team
