Superseed, a London-based venture capital startup backing organisations working towards industrial and business automation, finished the premier closing of its Fund II programme led by British Business Bank at USD 42 million on 4 February 2022.
Investors: The Fund II programme featured British Business Bank’s Enterprise Capital Fund programme as the fundamental investor. The startup targets the final close of the fund at USD 67.7 million.
Purpose of the funding: The company seeks to deploy the fresh capital to back B2B software firms in the coming 3-4 years. It aims to aid 30-35 organisations generate sales and develop a robust base for worldwide market reach. It plans to utilise between 500K to 1.5 million pounds to support UK startups.
About Superseed
Brought to existence in 2018 by Dan Bowyer and Mads Jensen, SuperSeed aspires to aid the new age of entrepreneurs to develop successful firms. The company concentrates on customer satisfaction and sales, as it foresees genuine customer traction as a precursor to building the foundation of developing a long-term sustainable enterprise. With the help of its business model coupled with support from investors, it has the potential to elevate the success rate of a business in achieving its next milestone.
What the Founder has to say: “Automation can optimise several business practices, particularly in the manufacturing domain. We estimated automation would emerge as a great economic trend, even in the absence of the stimulus from the pandemic. Software is the focal point of this opportunity. Across manufacturers, except the giant producers including Rolls Royce and Boeing, nearly 80% of manufacturing equipment is unlinked to the internet or not smart. Automation unveils massive sustainability opportunities, ranging from the reuse and recycling of post-consumption to the application of smarter materials.”- Mads Jensen, Co-Founder of Superseed.
What the Investor has to say: “The British Business Bank’s Enterprise Capital Funds programme has played a vital role in developing and ensuring productive venture capital provision in the UK. It has democratised and eliminated many hindrances in the entry of rising entrepreneurs, especially those who seek to cater for the under-served market regions. Our financial support to SuperSeed will enable them to finance and back early-stage, high-potential businesses and entrepreneurs. We are delighted to have contributed over 1 billion pounds through our ECF programme to date.”- Ken Cooper, Managing Director, Venture Solutions, British Business Bank.
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