Interactive children’s brand secures funding
Beans Entertainment, a company that develops digital engagement experiences for children, has announced it’s secured £300,000 in seed investment.
The deal, which was overseen by Cardiff-based Capital Law, consists of funding and shareholder agreements with a number of investors across different sectors.
Notable backers include Shoezone COO Charles Smith, retired Deloitte partner Shirish Patel , Ashley Cooper from Catalyst Growth Partners) and former head of Royal Mail Ventures Nick Pendleton .
The company will use the funds to advance the development of its products and to make a string of new hires in the coming months. It’s also in talks with a number of media firms to increase brand awareness.
Based in Cardiff, Beans Entertainment was founded by Dan Clemo and Jason Veal. They also set up the prominent creative branding agency, Sugar Creative Studio.
It’s building a number of digital experiences for children – after acquiring worldwide rights from British illustrator Richard Fowler – and has investors involved in cartoons such as Thomas the Tank Engine and Mr Men.
Dan Clemo, CEO and co-founder of Beans, said: “We’re thrilled to have secured this funding from such prominent investors whom I know will add significant value to our business beyond their cash investment.
“The new funds will provide us with the necessary operating cash flow to launch Bean&Gone after nearly three years of creative design and character building.”
Charles Smith, who is a shareholder in the business, believes that Beans has a bright future ahead. He’s pleased that two creatives have come together to build an interactive brand for youngsters.
“I’m pleased to have become a shareholder in such a dynamic young company like Beans. The founders are a truly gifted set of creative individuals who have a collective global vision to build a brand that future generations will grow up with and love,” he said.
Shirish Patel said: “The decision to invest in Beans was quite simple once I’d met Dan and Jason. Their backstory is compelling as is the potential for making Bean&Gone a brand that has lasting appeal to children around the world.”
Mark Hindmarsh, an investor and advisor in the tech industry, said that the firm has a lot of potential and that the funding will help the team achieve even more success.
“Beans has progressed significantly in the last 12 months and is already attracting the attention of an number of potential strategic partners who are interested in collaborating on Bean&Gone,” he said.
“As new shareholders, Smart Anchor Capital are excited to see what the future holds for the company considering the size of the opportunity that lies ahead.”