Scottish eco-technology start-up Pawprint has reached more than treble its crowdfunding target as the fundraising drive nears its end.
In excess of 900 crowdfunders had backed the company by early yesterday afternoon, boosting the firm’s cash reserves before a roll-out of its innovative technology later this month.
Pawprint, founded and led by Aberdonian entrepreneur Christian Arno, smashed through its £100,000 target within a day of launching its crowdfunder in mid-April.
New investors, backing the firm with sums ranging from £10 to £15,000 in return for a share of the 10.47% equity up for grabs, pushed the total to more than £300,000 yesterday. The call for funds ends at midnight today.
BrewDog co-founder James Watt and Hugh Little, the former head of mergers and acquisitions at Aberdeen Asset Management, are among Pawprint’s north-east crowdfunders.
The firm’s technology is based around an app that helps users make choices affecting their carbon footprints.
They start by answering questions about their lifestyle, and are then able to compare their personal “pawprints”, or carbon footprints, with country averages and other groups of their choosing before being presented with a personalised range of challenges and tips for leading a more environment-friendly life.
Six of Edinburgh-based Pawprint’s board are from the north-east: Mr Arno, Chris Bradbury and Ross MacNay are all from Aberdeen, Mark McCafferty hails from Banchory, Douglas Cook is from Alford and non-executive director Sarah Ronald is from Westhill.
Earlier this year Mr Arno said he had raised £580,000 from angel investors for Pawprint.
Hailing the success of the latest funding drive, he said: “Our aim was to build a passionate community as committed to reducing the carbon footprint of millions of people as we are.
“It has been truly inspiring to have nearly 900 invest in this.”
The 41-year-old founded translation firm Lingo24 in his bedroom at his parents’ home in Aberdeen in 2001.