Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


£160K London Business Angels' investment helps Cycell to close its over-subscribed £1m round

11 December 2012

Early stage, London-based, specialist mobile virtual network operator, Cycell, has closed an oversubscribed £1m round which included a £160k investment by a group of London Business Angels investors. This funding round takes the total level of investment by London Business Angels ( into the company since August 2011 to over £300k. Cycell offers a full range of specialist white label handsets and airtime contracts, and has its own brand of Ownfone handsets ( which are some of the smallest, lightest and thinnest easy-to-use phones in the world. The company has already launched its mobile service across the country through Age UK, its first major distribution partner . The new funds will be used to fund further stock acquisition and to support the transition from trial phase to commercial scale operations.

Bill Darley, CyCell CFO, comments, “we are very grateful to London Business Angels for the rapid response to our funding proposal which enabled us to go from presentation to completion within the month. Whilst we were already known to LBA members, this demonstrates how professional the membership is in its ability to respond rapidly to a strong investment proposal. The rapid completion of the round has enabled Age UK and ourselves to get the uniquely easy-to-use handsets into the shops in good time for Christmas gifts for the elderly and the very young, and has already prompted interest from a number of national Daily newspapers.

Anthony Clarke, London Business Angels CEO, comments, “when Cycell presented to the LBA community on 27th September, they had already received substantial commitments in the round which created positive deal momentum. As a result, they were able to close a £160k investment by a group of LBA members within 3 weeks as part of the oversubscribed round with a number of other interested LBA investors left disappointed! This is a good example of how quickly a company with strong management, a positive story and explosive growth potential can close a round once substantial commitments have been received. LBA investors have now invested over £300k into the company since August 2011 and we wish the Cycell team every success as they move into full scale operations with their lead commercial partner.”

For enquiries please contact:

Publisher Contact Information:

London Business Angels (LBA)

Company profile of London Business Angels (LBA)
Past press releases of London Business Angels (LBA).


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

May 17€4.0MBiopharmaceuticals
May 16€15.0MPayment software
May 16€4.0MInternet services
May 16€80.0MConsumer electronics
May 16€6.3MImaging
May 16€13.0MInternet services
May 16€34.5MBiotechnology

For information on Europe's most extensive database on technology funding click here!


Press Releases

Apr 29
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...

Aug 17
Komed Health
komed health closes seed financing round

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.