Live Game Management Platform ChilliConnect secures £343k Seed Funding led by TechStart Ventures

Live Game Management platform ChilliConnect is excited to announce the completion of a Seed funding round of over $450,000 raised from TechStart VenturesAscension Venturesand existing angel investors.

The technology company was founded in 2016 as a spin out from a successful game development studio. Its flagship product, the ChilliConnect platform, is a SaaS (software as a service) tool kit that provides game developers and publishers with a single solution to a range of Live Game Management services including analytics, game backend services and live operations. This “all in one” game development and publishing service has already attracted a range of notable global clients.

Following this Seed investment round, ChilliConnect plans significant growth across the business. Dedicated sales and marketing capability has been added and the company is now seeking to double the size of its current development team. ChilliConnect’s ambition to democratise Live Game Management for all game developers regardless of shape, size and financial resource is now one step closer to reality.

CEO and Co-founder Paul Farley said “We are delighted to close this Seed round. Not only will this investment allow us to accelerate the development of the ChilliConnect platform, developing innovative live operations and game backend features, but we can now market the platform to an even larger range of potential customers. Having access to the knowledge and networks of both TechStart Ventures and Ascension Ventures is a massive benefit. We’re looking forward to working with these top drawer early-stage funds.”

Mike Herron, CTO and Co-founder added “We’ve already demonstrated we can deliver a world class service with a small team, now we have the opportunity to maximise our positioning and become one of only a handful of key players in this space. In addition to developers and publishers we fill a large hole in the technology stack of distribution platforms, engine providers and other complementary technology companies. We’re looking forward to realising this potential in the months ahead.”

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PRESS
For more information contact Paul Farley, CEO paul.farley@chilliconnect.com or 07824 614105.
Press pack available here: www.chilliconnect.com/press
Website: www.chilliconnect.com
Twitter: @Chilli_Connect

ABOUT ASCENSION VENTURES
Ascension Ventures backs exceptional entrepreneurs with big visions – providing capital, our network, and expert mentors to grow scalable technology businesses. We support UK businesses from Seed to Series A, and since 2013, Ascension has invested in over 75 UK based early-stage companies. Current funds include the ASCEND SEIS (Seed), CENTAUR EIS (Seed+), UK-India EIS (Seed+), and its Fair By Design social impact fund, working to eradicate the UK’s Poverty Premium.

ABOUT TECHSTART VENTURES LLP
Techstart Ventures LLP is a seed stage venture capital investor for the most ambitious entrepreneurial founding teams in Scotland and Northern Ireland. We seek to be trusted peers who help founders realise their vision through experienced and timely support. With our capital and backing, founders can focus on customer development, validating their business model and growing sales. Techstart manages the Scottish Growth Scheme – Techstart Ventures Equity Finance LP Fund which has been part financed by support from the European Structural Funds 2014-2020 European Regional Development Fund Programme in Scotland.

HealthTech company Neurovalens raises £4.6 million Series A investment led by Wharton Asset Management

Belfast-based health tech company, Neurovalens, has secured one of the largest ever Series A investments generated by a Northern Irish technology company.

The company specialises in using neuroscience to solve everyday health issues.

The £4.6 million raise was led by London-based Wharton Asset Management along with Cambridge based IQ Capital. The round was also supported by Techstart Ventures, through its Invest NI-backed fund, The UU Fund, Co-Fund NI managed by Clarendon Fund Management, Beltrae Partners and the Angel CoFund.

Led by Dr Jason McKeown, Neurovalens is renowned for the development of Modius, an innovative headset which non-invasively stimulates the area of the brain associated with appetite and cravings.

The investment will allow for further medical trials in the areas of obesity and type 2 diabetes and will also support the company’s wider research into issues such as insomnia, mental health and epilepsy.

“We are delighted to receive this latest wave of funding, it will enable us to continue to lead the way in developing non-invasive neuro-stimulation technology and will propel our work to a whole new level,” said Dr Jason McKeown, CEO of Neurovalens.

“Modius has been an incredible success story since its launch in 2017 and with medical device approval expected within the next 12-18 months, the prospects are extremely exciting.

“With the concept now proven, our immediate focus is on the development of neurological science to tackle ever wider health and lifestyle issues affecting people all over the world. It’s a hugely exciting time for the application of neuroscience and our business.”

Highlighting the significance of the funding round, Jamie Andrews of Techstart Ventures added:

“We are very proud to have been investors in Neurovalens from its earliest days. This round is a huge endorsement of the work of the entire team at Neurovalens. Their ability to bring neuroscience and technology together is not only delivering a lighthouse commercial success story for Northern Ireland but at a global level, is changing lives for the better.”

Also commenting on the raise, Kerry Baldwin, Partner of IQ Capital added:

“IQ Capital is looking forward to supporting the impressive, thought-leading team at Neurovalens as they apply their IP-rich neuro-tech to solve multiple health issues.”