Early-stage tech firms Kibbi and Friendly Score win investment from Mercia
Fund has backed seed rounds in the smart home security system and social media credit profiling company
UK technology investor Mercia Fund Management (MFM) announced that it has made two seed stage investments in early-stage tech firms Kibbi, a smart home security system, and Friendly Score; an online credit profiling company.
The new comes after MFM announced investment into two other emerging UK tech start-ups last week – Intelligent positioning and CYP Design Ltd.
Founded in 2013, Kibbi is a smart home security system developed by Ashiemymy Ltd to provide an affordable alternative to traditional systems. It includes a high definition camera, motion detectors and alarm to alert occupants of intruders, as well as 1GB of cloud storage.
Friendly Score is a B2B solution for online lenders, providing a consumer credit assessment tool that utilises social media data to increase conversion and approval rates. The platform uses Natural Language Processing (NLP) Technology to analyse a user’s social media interactions and build a positive or negative rating.
Kibbi CEO, Ronnie Nag said: “We are grateful to MFM for this investment, which will help us move forward to larger scale manufacture of Kibbi.”
Friendly Score CEO, Maciei Dolinski, commented: “We are very pleased to receive early stage funding from MFM, and look forward to working closely with them as we continue to grow.”
Mike Hayes, investment director and head of digital at MFM, added: “We are pleased to invest in Kibbi, which provides customers with an inexpensive, discreet and highly effective alternative to traditional home security systems.
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“Kibbi is part of a fast-growing industry for the UK – the Internet of Things – a fertile ground for start-ups which was predicted by Cisco systems to be worth around £12 trillion by 2020.”