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By Companisto

LUUV receives fresh capital from business angels

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LUUV follow-up financing

 

The Berlin start-up, LUUV, was able to secure a further round of financing from three business angels.  LUUV produces and distributes the camera stand, solidLUUV. The innovative and award-winning technology (ISPO product of the year, CES innovation & red dot design) seeks to revolutionize mobile filming and is geard towards a new generation of filmmakers. With its patented technology and unique selling points, the start-up seeks to conquer the quickly growing camera equipment market.

LUUV has grown together with the crowd. After it was founded in 2014, the start-up completed two sucessful crowdfunding campaings on Kickstarter and Indiegogo before deciding to start an equity-based crowdfunding campaing on Companisto. The innovative idea immediately convinced the Companists: 663 companists invested €400,130 in the start-up.

The B2C model has profited from the crowd effect: by coming directly into contact with investors, who are also potential customers, LUUV received preorders numbering in the six-figure range from over 60 countries. And the strong demand still remains. The first batch of products is available worldwide and the second one has already been ordered. In order to cover the capital needs for this, LUUV initiated negotiations with investor groups in April.

The negotiations on a follow-up round of financing was successfully completed. The professional investors were convinced by the idea and provided LUUV with fresh capital in the mid six-figure range. The investment is to be used for production and for expanding the team.

The investor group is composed of three business angels that are investing in the company independently of one another.  Together, the investors have multiple decades of experience under their belt in online marketing, product and financial controlling, and international business management. The three business angels continue to advise LUUV. "We're pleased to have three competent and experienced business people on board with us; their personalities are an absolute win for us," said LUUV co-founder, Tim Kirchner.



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