Via Kristy Dorsey
Two Scottish companies sat yesterday on Crowdcube at the top of all funding campaigns, with more than £ 4 million raised between them.
Celtic Renewables and Phlo, both fellows of the Entrepreneurial Scotland programme, were first and second in the UK. Platform for crowdfunding in terms of the total amount of money collected. Both campaigns are over-subscribed and have more than a week left to run each one.
Celtic Renewables, based in Edinburgh, launched its campaign in late September with a £ 1.75 million target to help develop a biorefinery in Grangemouth. Low-grade biological materials will be processed into high-value, low-carbon, renewable chemicals and biofuels by the refinery, which is projected to be the first of its kind in the UK. It is said the plant is approaching completion.
Celtic Renewables, a Scottish cleantech company, supports the UK’s first biorefinery with a fundraising campaign
Celtic Renewables had earned 2.68 million pounds as of last night, which is 153 percent of its original target. There are 13 days remaining in the campaign.
“I am very grateful to the Entrepreneurial Scotland team, as the invaluable skills I learned through the scholarship programme were the springboard for my success with Celtic Renewables,” said Managing Director Mark Simmers. “I hope this success will inspire others on their own entrepreneurial journey.”
In order to become the “Deliveroo of pharmacy,” Phlo, headquartered in Glasgow, launched its Crowdcube campaign in October with a £ 1.65 million target to fund its growth in major cities across England.
Established by former banker Nadeem Sarwar, Phlo provides patients with prescriptions by bike. The business signed its first deal in England with the NHS, where it also has a presence in London, and is now aiming to establish a foothold in Manchester and Birmingham.
The business in Glasgow strives to become “Deliveroo of pharmacy”
By last night, Phlo had exceeded by more than £ 300,000 its initial goal of £ 1.65 million. There are 10 days remaining in the campaign.
Mr. Sarwar said, ‘I am overwhelmed by the support we have received from both our patients and the public. “The funds from this crowdfunding round will help us expand our operations across major cities in England and allow us to continue our journey of building the most technologically advanced digital pharmacy platform in the UK.”
The Entrepreneurial Scotland Foundation is an independent charity which for 20 years has provided a range of programmes and funding.
“We are delighted that two of our grantees have exceeded funding targets in their latest investment rounds. Scotland’s future will be shaped by those who think, act and lead entrepreneurially, and Nadeem and Mark are prime examples of this.”We are delighted that in their latest investment rounds, two of our grantees have exceeded funding targets. Those who think, act and lead entrepreneurially will shape Scotland’s future, and Nadeem and Mark are prime examples of this.