This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.
Olswang equIP member Crowd Connected has closed a new financing round, taking the company to over US $1 million in seed capital raised to date. Crowd Connected will use this cash injection to enhance the functionalities of its product and drive the company's sales and marketing initiatives.
Mark Maydon, Director at Crowd Connected, commented: "Olswang was instrumental in helping us to close this significant funding round, which will go a long way to accelerating our strategic roadmap. Successfully navigating legal complexities is a vital factor to the success of any IP-rich business, but being part of the Olswang equIP programme provides much more to us than just legal advice. We'd like to thank Tony and the team, and look forward to working closely with them as we continue to grow."
Olswang Corporate Partner and equIP leader Anthony Waller commented: "This is great news and well-deserved by the Crowd Connected team, who'll be able to use this this funding round to further develop their ground-breaking platform. I'm delighted that the Olswang equIP programme, launched just under a year ago, has been able to have such an impact on an innovative business with such great prospects for future growth, and we're glad our expertise has proved useful in helping Crowd Connected on to the next stage of their journey."
Crowd Connected has already secured licensing agreements for its innovative technology with leading operators in the global music festival market, and was recently selected to pilot its technology on the London Underground, as part of its Internet of Things (‘IoT’) strategy to tackle congestion on the UK capital’s tube network.
Launched in 2015, Olswang equIP is a dedicated, free-to-join programme that provides legal advice and support to UK startups with a focus on intellectual property (IP), corporate and commercial advice. It is targeted at experienced teams leading disruptive, IP-rich tech companies that seek guidance on building robust governance and compliance practices to ensure the success and longevity of their business.
Partner and Co-Head of Technology Anthony Waller was supported on this transaction by Corporate Associate Sam Pout.
Read more about Olswang’s international legal practice on the firm’s website.