Story image

Lightning Lab accelerates Kiwi start ups to success with $2.2m funding

12 Aug 2014

Teams from the 2014 class of Lightning Lab, New Zealand’s leading digital accelerator programme, have secured $2.2 million in total seed investment capital from top Kiwi investors.

This year’s investment matches last year’s inaugural Demo Day, which also resulted in four companies confirming $2.2 million in seed funding.

“We couldn’t be happier with what these teams have managed to secure," says Stefan Korn, CEO, Creative HQ CEO.

"It’s a true testament to the entrepreneurs who go through the programme and the team of mentors and partners that prepare them for the investment pitches and process."

As a founding investor in Lighting Lab 2013, Trevor Dickinson admits he had his doubts whether this year’s intake would maintain the high standards set by the participating teams in the inaugural year.

"However, I was delighted to see that all the teams who pitched on Demo Day 2014 matched the best of what last year had to offer,” he adds.

“It was therefore no surprise that the 2014 graduates have attracted serious interest from experienced angel and venture capital investors, proving once again that Lightning Lab is able to successfully identify and fast track promising startups which the New Zealand investment community is willing to back with cold hard cash. Long may it continue.”

The five teams to secure investment are:

Glassjar - a software platform for managing shared expenses and making group payments. In the next few months, Glassjar will expand to the US market to end the current cheque based method of paying rent and forever change the payment landscape.

Twingl - builds tools that accelerate the evolution of human intelligence. Their first product, Trailblazer, is a web browser that helps you research, reflect, and learn. Twingl has recently begun a pilot programme in New Zealand schools and plan to expand to the US by the end of the year.

Cloud Cannon - the easiest way for web designers to deploy, host and maintain websites for clients. Cloud Cannon is looking to the US market to build relationships with customers, investors and partners who align with their mission of disrupting the web design industry.

CommonLedger - a universal translator of accounting data, making accountants’ software and compliance easy. CommonLedger is heads down building the product as they prepare for a launch later this year.

CoachSeek – online software that helps sports coaches manage all the scheduling, billing, messaging and client management so they can do more of what they love. In the next few months, CoachSeek will refine their management tool, add international partnerships and expand its user base that reaches 34 countries.

Glassjar and Twingl are both set to join Creative HQ’s incubation programme in the coming weeks.

Founded by Creative HQ in Wellington, Lightning Lab will travel to Auckland and Christchurch in 2015 in partnership with The Icehouse and Canterbury Development Corporation.

50 million tonnes of e-waste: IT faces sustainability challenges
“Through This is IT, we want to help people better understand the problem of today’s linear “take, make, dispose” thinking around IT products and its effects like e-waste, pollution and climate change."
Vocus & Vodafone unbundle NZ's fibre network
“Unbundling fibre will provide retail service providers with a flexible future-proofed platform regardless of what tomorrow brings."
IDC: A/NZ second highest APAC IoT spenders per capita
New IDC forecast expects the Internet of Things spending in Asia/Pacific excluding Japan to reach US$381.8 Billion by 2022.
Xero launches new data capture product in NZ
“Data automation is the fastest growing app category on the Xero app marketplace so we know there is a hunger for these types of tools."
Security flaw in Xiaomi electric scooters could have deadly consequences
An attacker could target a rider, and then cause the scooter to suddenly brake or accelerate.
Four ways the technology landscape will change in 2019
Until now, organisations have only spoken about innovative technologies somewhat theoretically. This has left people without a solid understanding of how they will ultimately manifest in our work and personal lives.
IDC: Top 10 trends for NZ’s digital transformation
The CDO title is declining, 40% of us will be working with bots, the Net Promoter Score will be key to success, and more.
Kiwi partner named in HubSpot’s global top five
Hype & Dexter is an Auckland-based agency that specialises in providing organisations with marketing automation solutions.