“We have boot-strapped our start-up for 18months. That means the three founders have worked two jobs, dedicated long hours and poured their hearts and souls into this dream. This grant funding means we can focus full-time on our business for the next 12months. This is a game-changer for us, and the timing could not be better since we are opening our seed funding round with a £265k head start!”
Marianna Recchia // Founder // Tonus Tech
Introduction – Understanding the Challenges
Marianna (Founder and CEO at Tonus Tech) attended a funding webinar organised by Newable and delivered by Alex (Venturenomix director). A follow-up video meeting convinced the companies to work together – it was the amazing team at Tonus Tech that really impressed.
Working Together – Solution and Services
Tonus Tech planned to open a seed equity round at the end of the year and were ideally placed to leverage this investment with R&D grant funding. Venturenomix stepped in to lead the process of identifying grants and writing grant applications.
Successful Outcomes
The Innovate UK Smart grant success (hopefully the first of many) means Marianna, Dimi and the team have a £265k R&D project funded for the next 12 months. It means the team can work with City University, London, and Newcastle University to deliver a prototype of their soft robotics actuation technology embedded into garments. The seed funding round looks set to complete in record time!
Find out More
Please share this case study with your team and wider network if you think there are elements that might be helpful to other ventures. If you are interested to find out more, here are your options:
- Here are the links to the companies in this case study:
- Tonus Tech
- University of Newcastle – Health Ageing Centre
- City University, London
- You can read m
- Here are some useful links to relevant sectors explored in this case study:
- Here is an overview of the UN Sustainable Development Goals