Ecommerce firm E Fundamentals has closed a £2.5m Series A.
The company, which is headquartered in London but also has a presence in Edinburgh, raised from Downing-managed VCTs and Downing Ventures EIS.
E Fundamentals’ existing shareholders also participated in the round, which brings the company’s total raised to date to £5m.
The firm says it’s already working with the likes of Nestle, General Mills, Kerry Foods and Birds Eye.
Downing investment director Richard Lewis said: “We are delighted to work with such a committed, professional and focussed management team and are excited to support E Fundamentals as they continue to tackle this real problem facing FMCG brand-owners.
“We believe the company is perfectly poised to help brands adapt and succeed in the growing and crucial e-commerce sector,” he added.
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E Fundamentals CEO John Maltman commented on the news: “Every brand owner in the world has their growth plans pinned on ecommerce. We are committed to helping our clients get a tremendous return on intelligence by helping them drive their share of online business faster than bricks and mortar sales.
“All brand owners need deep insights to get the fundamentals of ecommerce right and this Series A round allows us to further perfect our service and quickly expand into new product areas and international territories.
“We’re delighted to be part of the Downing family; their long-term commitment to growing businesses made them the stand-out investor partner,” concluded Maltman.
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