Aug 18
Edozo secures £2M investment in latest funding round despite tough economic backdrop
Led by existing investor Blackfinch Ventures with new investors including Juno Capital Funding will enable Edozo to scale up to a multi-product platform by 2022
Edozo has secured £2million from venture investors in the first half of 2021 which will enable it to grow market share, develop new products and upscale the team.
Backers include existing investor Blackfinch Ventures as well as new funders such as Juno Capital. Their investments come at a tough time for the UK economy, but show the confidence that investors have in Edozo’s growth and the value of the Proptech sector.
Edozo was co-created by entrepreneur Marcus Ginn and surveyor Andrew Peacock, with a vision to transform the commercial real estate sector with simpler and more affordable technology. With this successful funding round, the business is expanding from providing the sector’s leading digital mapping system to a multi-product platform combining property mapping and data products.
Edozo aims to transform an industry still reliant on manual research and legacy software. Instead Edozo is bringing to market an accessible, easy-to-use online solution, cutting the time for property professionals including valuers, agents and investors, to research and value commercial real estate.
Edozo CEO and Co-Founder Marcus Ginn said; “The support that many existing investors and new backers are showing for Edozo’s growth plans underlines their belief in our vision and confidence that our products provide solutions that are essential to the sector. Our simple to use, flexibly priced technology products already help to provide huge efficiency gains to our customers and with our growth and investment in a multi-use platform the savings will only increase.”
In the past year Edozo has already added new features including CAD (Computer Aided Design) compatible functionality and updates to its comparable data product, helping the company to attract customers in new sectors of the property market.
Dr Reuben Wilcock from Blackfinch Ventures said;“We have been an investor in Edozo since 2019 and believe they are offering products and services that are hugely needed in the property sector to help it find efficiencies and grow.”
Edward Rudd, Partner at Juno Capital said: “Now is absolutely the right time to invest in Edozo. They are developing new tech solutions, which, with the right financial support can help to transform the commercial property industry. The Proptech sector is defying many negative patterns in business since the pandemic began and we believe Edozo has a strong growth plan.”
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