Deals

HealthTech May 1, 2020

Fuel Ventures backs Lifted to help solve the care home crisis

We advised Fuel Ventures on its £1.3 million investment into social care start-up Lifted as part of a wider £1.6 million seed round.

Lifted is a CQC-regulated care provider looking to provide a solution to the growing need for affordable home care for an ageing population. Its proprietary care management platform tech allows families to get real-time updates on care, leave instant reviews, and see a set of wellness data about their loved one. The new funding will be used to extend these services further to develop a one-stop-shop to support anyone going through the process of caring for a loved one.

Lifted has now raised around £3.1 million since it was first incubated in September 2019 by corporate venture builder Zero 1 and British Gas.

Oli Hammond at Fuel said “Fuel Ventures has carried on investing and closing deals during the Covid-19 pandemic, and it’s great to have invested in a company that is bringing a fresh approach to our care system that has been so badly impacted by the coronavirus crisis.  We like working with the team at HLaw, they know their stuff when it comes to venture capital and on executing deals generally.”

Deal/project: Seed investment

Date closed: March 2020

Space: HealthTech

Other lawyers and advisors: Orrick acted for the Company, Foot Anstey for British Gas

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