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iDefigo Limited

Visit iDefigo’s Website

A Chelverton Investor Club Investment

Location
Theale, UK

Sector
IT Services / Software

Investment Type
Development Capital (EIS Qualifying)

Deal Size

Total: £1,000,00

How much did Chelverton Investor Club Members invest: £900,000

Date of Investment
June 2018

About iDefigo
iDefigo initially developed its market-leading Internet of Things (“IoT”) surveillance platform in New Zealand before relocating to the UK in 2013. Their unique offering, combining industry leading power management, mobile network optimisation, and intelligent cloud image capture and processing, revolutionises the remote security and monitoring market. For the first time, organisations have a viable solution for protecting remote assets. The iDefigo camera can be self-installed, without the need for a cabled power supply, enabling clients’ significant flexibility in locating the device and enabling high quality monitoring of remote assets. Target customer market segments include Utilities, Local and Central Government, Construction and Agri-business, which are approached directly and via partner channels, including through Vodafone who brand the iDefigo solution as the “Vodafone Smart Camera”.

Why did Investor Club Members invest
A market-leader with a product that has already been deployed around the world. The potential applications and target customers / markets are vast, whilst the leverage afforded by channel partner relationships gives this small business the opportunity to scale very rapidly.

How did we come across the company?
We were introduced to the business through a contact in the Corporate Finance community. The business had received Angel funding previously, but needed a new partner for the next phase of growth. We quickly appreciated the investment attractions and secured the mandate on behalf of our investors, without going through a competitive auction process.

How has our investment made a difference
The make-up of the Board has been enhanced post-investment. The capital secured will enable continued investment in the product / technology, whilst also developing the sales and operational platforms to support the significant uplift in opportunities presented by new channel partners.