BrewDog’s James Watt Today the goal of a new start-up, Social India, is to “become a unicorn”, as the crowd-funding start-up has doubled its target, hitting the £2m mark, in just over a day.
“Our goal,” Watt tells Tech.eu, “is to become a unicorn.”
Unicorn is a private company valued at over $1bn.
The social project has currently just raised over £2m at a £13m pre-valuation fund on crowdfunding platform Crowdcube.
You lived in the crowd of farmers yesterday (Thursday), at 9am.
Asked about the £13m valuation? Watt said:
“The valuation is being reinforced by some fantastic 3-party investors who have invested in the same valuation.
“The evaluation is based on the technology we’ve built, the strength of the concept, the quality of the team’s leadership and the fantastic brand we’ve just signed up as a partner.”
The social project, founded by Watt, who co-founded brewer and pub chain BrewDog in 2007 and was CEO of the business until he They went down in May this year It’s a very influential venture, which gives a financial reward to people who pack brands.
Watt said:
“Initially, our project involved funding from VCs and founders in my network, followed by contributions from our community.
“The first million was invested by VCs and founders.”
“This was a crucial step in getting the third-party evaluation validated before we opened the investment to our community. The community is huge at Social Policy, so it was obvious to us that the crowd was chosen.”
Social planning has put a £2.5m cap on its Crowdcube founder.
Watt has recruited social chain TV and Dragon founder Steven Bartlett as an investor and advisor.
Social policy has released a war document in which it says that over the next year it plans to gain a foothold in the UK and US markets, with approximately 100,000 customers and 1,250 B2B partners.
Nisl has also been in Europe since 2016.
First, it includes investors UK tech fund Haatch which invested £310,000, the British Investment Bank, MiniClip chief executive Rob Small, early BrewDog investor Keith Greggor, and early investor Ryan Peterson.
Its brand launch partners include BrewDog, Huel, PureGym, Slug & Lettuce and Pure Virgin.
The founding team includes Thomas Matecki, previously chief technology officer of BNPL fintech Zilch, and Georgia Lee, former director of food delivery management.
BrewDog, which has faced several controversies over its handling of staff, is worth some $2 billion according to a 2020 estimate.