Nine Kiwi startups are on the verge of securing around $3 million of seed funding, following on from a grueling pitching event run by Wellington-based accelerator Lighting Lab (a business unit of Creative HQ) .
Members of WIP, Promoki, Publons, Kidsgomobile, Teamisto, Expander, Adeez, LearnKo, and Questo pitched their ideas to a room of over 140 investors at Lightning Lab's Demo Day last week at Te Papa. Following the pitches the startups were put in a room with the investors to schmooze and secure the funding needed to keep their businesses going.
For more on the Demo Day pitching, check out this article by Peter Kerr.
The investment details haven't been finalised yet as negotiations are still taking place between startups and investors. The $3 million figure is the amount of funding the investors had expressed to the nine startups on the night, says Creative HQ venture manager Nick Churchouse. It's now up to the startups to pursue their individual portions of that number, the final figure could be larger (or smaller), he adds.
BizDojo co-founder Nick Shewring says the quality of the pitches last week stood out for the businessman who's seen his fair share of startups in his day.
"The pitches at Demo Day were the smoothest I've seen in New Zealand ... I was impressed by how well they sold their stories and that they all mentioned the customers paying them money already. Brilliant," he says.
Check out Shewring's view on Demo Day and his top tips for pitching to investors in tomorrow's Idealog Tech newsletter.
WIP - Video work flow platform which tracks the progress of the editing process
Promoki - A social network gamifiying brand promotions using photo and video contests
Publons - A crowdsourced peer review platform, providing an alternative to current methods for publishing papers
Kidsgomobile- Software for teaching children responsible smartphone usage
Teamisto - Fundraising platform for managing, organising, and fundraising sports teams
Expander- Counterfeit-detection and retail intelligence software for brands
Adeez - Mobile advertising and app promotion network
LearnKo - Online learning service using Australasian tutors
Questo - Event promotion tools for zoos, theme parks and museums which gamify in-house attractions