Member Article

UCL spin-out Chirp raises £750k in crowdfunding campaign

Chirp has closed its Crowdcube fundraising campaign after smashing its initial £400k target.

The University College London (UCL) spinout has raised £750k - the largest amount raised by any UK university spin-out via crowdfunding.

The sonic data transfer app received investment from a total of 365 investors, including existing investors UCL Business and the wholly-owned technology transfer company of UCL, Red Gate Software.

In the last days of the campaign, London-based investment firm GuanQun Investment UK pledged £215k to help the company continue product development.

UCLB managing director, Cengiz A. Tarhan said: “UCLB is delighted with the outcome of the campaign and pleased that the company can now really move forward with growing a sustainable, revenue-focused business based on a robust technology platform,”

This was posted in Bdaily's Members' News section by Ellen Forster .