Further Funding for AutonoMe – February 2018
FUNDING TO HELP DISABILITY SUPPORT BUSINESS GROW
A new tranche of £330,000 investment capital from Bristol Private Equity Club is helping a West Country firm that provides technology to support people with learning disabilities to double its workforce further improve its technology.
The funds take the Bristol Private Equity Club’s total investment in AutonoMe to £435,000. The club is made up of successful entrepreneurs with spare capital from the region, who want to support growing businesses in the Bristol and Bath area.
AutonoMe has offices in Bristol’s Engine Shed and in Weston-Super-Mare and the scale-up funds will help further develop its product and support a growing client base delivering independent living skills to people with learning disabilities.
William Britton, Founder and CEO of AutonoMe, said: “We work with Local Authorities to help cost efficiently further the independence of their learning disability population.
“We used the original funding to pivot the business to access an emerging market – and have a number of new local authority clients across the region. The new investment will enable us to further scale up the business and expand the team in Bristol and the South West.”
AutonoMe is a support system that combines the power of video, mobile technology and data to help people with learning difficulties through everyday tasks, whenever they need it, helping them to live more independently.
Users can access videos that show them tasks such as using the vacuum cleaner or loading a dishwasher or using a washing machine through their mobile phone or tablet simply by scanning household items.
Jerry Barnes of Bristol Private Equity Club said: “We have been impressed at the progress made on the AutonoMe product since our initial investment and a number of our members were keen to ensure that the funds are there to scale-up to the next level.
“The care sector is a growing one and innovative solutions that harness the power of technology are the ones that will provide the solutions for the future. Bristol is at the forefront of such developments that can support people across the country and worldwide”.
The Bristol Private Equity Club has over 60 members, all successful entrepreneurs, who as well as being a source of funds provide a tremendous pool of talent with experience that can help businesses grow.
The club was founded in May 2016 with just six investor/members and has grown primarily by supporting projects which need between £100,000 to £500,000 of equity funding, where members can make a real difference and enjoy a return. This 11th deal means that the club has invested over £2 million in less than two years.