Two campaigns on the Shadow Foundr platform, Genesis Technical Systems and Convert Technologies, have both reached 97% of their respective funding targets as they enter the final fortnight before closing on 31st August.
Following significant institutional investment, Genesis Technical Systems’ funding round of £3m has less than £100k remaining. More than £2.9m has now been raised for the company to fund commercial deployment of their products, following successful trials with one of the largest Telco’s in the USA.
With demand for broadband predicted to double by 2021, Genesis provides patented and cutting-edge broadband technologies that enable telecoms operators to cost effectively deliver ultra-fast mobile and fixed broadband services over existing copper networks.
With a huge, untapped market, and an ever-increasing appetite for faster broadband, this is a very attractive solution to operators as it doesn’t require great technical skills or disruptive road works, and results in a far quicker return on investment, as well as a higher average revenue per user.
Meanwhile, Convert Technologies’ has less than £9k remaining of its £300k funding target. Convert’s ground-breaking licensing model, working with large established brands who have market reach to drive excellent sales numbers, is starting to reap dividends. The big brands have the distribution, sales and marketing muscle, what they don’t have is an ability to innovate and that’s where Convert comes in.
With protected IP, grant money vindication, retail traction, a huge market to tap into and the potential to move into other sectors by licensing their tech, Convert is well placed to deliver a period of rapid growth.
A recent interview with Martin Boddy, CEO of Convert Technologies can be found on Shadow Foundr’s blog, The Hub.
If you would like to learn more about Genesis and Convert or to invest in either company before the end of August, please click the links below.