UCL is today launching the UCL Technology Fund to invest £50 million in commercialising its world-leading research emerging over the next five years.
Rich future in store for UCL graduate’s literary idea
25 July 2012
A graduate of UCL has successfully closed his latest funding round after seeking investment from a syndicate of Angels in the City.
Together with funding from London Business Angels (LBA) investors, Raoul Tawadey, who graduated in 2008 with a degree in Natural Sciences, will use the investment to expand his company’s resources, bolster technical development and accelerate growth.
His company, Circalit, has developed an innovative digital publishing platform which aims to become the ‘Youtube for ebooks’, a place where writers can publish their books on the web and mobile devices, as well as selling their works directly to readers at the price they choose. The content they produce is then distributed through Facebook and Twitter, amongst other social media channels.
“We're absolutely delighted to be closing this round of funding with Angels in the City and LBA investors, and we look forward to launching our new product in the next few months,” says Raoul. “The Angels in the City service has provided us not only with the necessary capital, but with outstanding and relevant sector expertise.”
Raoul has benefitted from long-standing support from UCL Advances for his business concept, including a Bright Ideas Award to provide seed funding for his idea and space, free of charge, in the university’s hatchery. He will also be part of the university’s delegation heading to this year’s Turing Festival in Edinburgh.
“Raoul’s always had a firm grasp of business principles and it’s great to see this vindicated with this support from investors,” says Timothy Barnes, Director of UCL Advances. “It’s also fantastic to see that the support which UCL has invested in Raoul has reaped – and will continue to reap – dividends. We’ll be watching his next steps with interest.”
Anthony Clarke, London Business Angels Managing Director, added, “I’m delighted a syndicate of Angels in the City investors, together with LBA, have underpinned Circalit’s funding round. Around 80 potential angels from the City of London have participated so far in the project of investing in early-stage businesses and I am delighted that a number of these individuals have started to invest in the city fringes, bringing their financial capital, experiences and contacts to support the growth of these businesses.”
For further information and enquiries:
Angel Capital: Alexander Sleigh firstname.lastname@example.org
UCL: Henry Rummins, Media Relations Manager, on email@example.com or 0207 679
About UCL Enterprise
UCL Enterprise provides UCL’s structures for engaging with business for commercial and societal benefit. In includes three units: UCL Advances, UCL Business and UCL Consultants. Together, they provide access to the capabilities and resources of the UCL community to help businesses start, grow and develop.
About UCL (University College London)
Described by The Sunday Times as 'an intellectual powerhouse with a world-class reputation', UCL is consistently ranked as one of the top three multifaculty universities in the UK and features in the top universities worldwide.
UCL is a founding partner of the largest European Centre for Medical Research and Innovation, The Francis Crick Institute, due to open in 2015. Its annual income is over £700 million. www.ucl.ac.uk
About Angels in the City
Angels in the City aims to increase the awareness of individuals based in the Financial Square Mile to become investors and to bring their financial capacity and business experience to invest in innovative, entrepreneurs with high growth potential in the City Fringes, including the Tech City cluster. The City of London Corporation is working with London Business Angels to deliver the programme.