Wednesday, September 16, 2015

Hunting Scottish Unicorns

A couple of days ago I posted an article up to Linkedin about The Search For the Next Scottish Unicorn. This mentioned the two Scottish Billion Dollar tech start-ups (Skyscanner and FanDuel) and asked the question about which would be the next. Both, according to sources online, are now worth over £600,000 and so qualify (at the current exchange rates) as tech unicorns.

It will be interesting to see which Scottish tech start-up is the next to reach the 10 figure sum and how that fact will be measured & proved - quite possibly by the investment amount and the percentage taken.

So which ones will be next? Here's some suggestions on who this could be:

Described at the 'Tinder for Fashion' Mallzee is the shopping app that lets you browse and shop over 100 stores from the comfort of your own device.
Having recently raised $4 million (£2.5 million) from a handful of investors including the Royal Mail, the start-up is poised for big mCommerce growth.
The exact percentage taken for the £2.5m injection is not clear. However, give that CEO and founder Cally Russell turned down £75,000 for 15% equity from Peter Jones on Dragons Den (therefore potentially valuing the company at £500,000) so one has to assume that a similar or better deal has now been agreed.

Clear Returns
Clear Returns is a Scottish firm that produces clever software which helps retailers by identifying which goods are sent back by customers and more importantly why.
Founder Vicky Brock raised £110,000 from Angels Den and Angel Academe a couple of years . It's exact valuation is unknown, but it has a decent client list including Scottish-based high street retailer M&Co.

Have I missed anyone?

Post a Comment