LOVESPACE takes total funding to £4m with latest investment

LOVESPACE, winner of Crowdfunded Business of the Year at the Startups Awards 2014, has announced a £1.1m fundraise to take its total investment to date to £4m.

This latest investment is a combination of angel and venture capital and private backing, and follows on from its £1.55m Crowdcube round in May 2014, as well as earlier funding from the company’s founding investors.

Founded by Streetcar co-founder Brett Akker in 2012, London-based LOVESPACE says its offering is like “cloud storage for your physical things” as it stores boxes and larger items on a monthly basis with box deliveries collected straight from your door.

It plans to use the funds to build out its service and “aggressively” drive growth having recently recruited two strategic director hires including Kabbee’s former CTO Dave Walker as technology director and Explore Learning’s Heather Garrick who will join as marketing director at the end of the month.

LOVESPACE managing director, Steve Folwell, outlined the company’s plans over the coming months:

“As our customers get ready for the big spring clean, we’ve already got our house in order in preparation for another year of strong growth in 2015.

“The recent £1.1m fund-raise will help us build a brilliant team and technology infrastructure for the business and make sure we can get the message out to movers, declutterers, travellers and students right across the UK”.