IncuBusLDN secures £53,000 Seedrs crowdfunding
Double-decker bus tech start-up incubator programme secures backing from 129 armchair investors
Unique tech start-up incubator IncuBusLDN, featured recently in the Startups’ Just Started, has closed £53,770 through equity-based crowdfunding platform Seedrs, a 7.5% increase on its original funding target.
London’s first incubator programme to run on a double-decker bus, Shoreditch-based IncuBus attracted 129 investors to its pitch in return for a share of 15.95% equity.
Launched on May 1 2014 by Rishi Chowdhury and George Johnston (pictured), IncuBus is designed to support young entrepreneurs, aged 18-25, to grow their own start up by providing a programme of resources, workshops, mentorship and introductions for £300 a month.
With the option to join the incubator for either a three month or six month period, the programme will also offer optional paid experience in some of the capital’s leading tech start-ups including Huddle, Enternships, Wobu and signkick.
It intends to use the finance to accommodate more start-ups on its programme and offer “greater returns” to investors from its pre-funding valuation of £283,000.
The finance will also go towards extending its programme to CodeClubs, events, pop-up shops and hosting local food start-ups.