Ada Ventures is a London-based early-stage venture capital firm.
The pre-seed round was led by Manchester Angels to support the completion of the Child Labour Index and advance stewardship tools for investors.
"To be able to oversubscribe the funding round in the current economic conditions is a monumental achievement for HACE and a testament to the growing awareness of the scale of the child labour issue and the role that technology will play in sustainably eradicating it."
Antler, Ada Ventures, and NoBa Capital backed the pre-seed round, which will fund the UK rollout of the paid product.
"As a founder, I’ve always been learning new things – from low-code programming to UX/UI basics and project management, even if it’s something I’ve never done before. I truly believe in the power of continuous learning and self-improvement. Our project is here to help every team member learn new things and unlock new opportunities, no matter how you like to learn, what language you speak, or what generation you belong to."
The funding round was supported by existing backers Ada Ventures and Maersk alongside lenders HSBC and Blackrock.
"Despite a challenging fundraising environment, the latest investment round is a testament to the confidence our investors have in our long-term vision and strategy. Our team has worked incredibly hard over the last 12 months to maintain our growth trajectory despite a poor macro outlook for eCommerce, introducing new services, like introducing automation for Enterprise clients, to enhance our customers’ experience and sustain our mission to revolutionise, simplify and transform eCommerce fulfilment."
The funding round was led by Ada Ventures and will support real-world trials of the company's materials discovery platform.
"At Magway, we are developing a ground-breaking method of transporting goods that is not only highly sustainable but also incredibly efficient. However, to achieve our goals, we understand the importance of optimising materials usage. By leveraging cutting-edge Materials Nexus technology, we aim to develop superior materials that will not only enhance our sustainability credentials but also result in cost reductions, ultimately driving wider adoption of our game-changing technology."
The pre-seed round was backed by investors including firstminute capital and Tuesday VC.
"Building my first startup straight out of university and scaling it to a team of over 500, I knew we had to become an effective learning organization. Yet I couldn’t find a simple way to equip our teams with the learning opportunities they needed to continuously grow their skills, learn more, and move faster."
