Subsidiary Envestors raised £125,000 for Essex-based Squease
Braveheart Investment Group subsidiary Envestors has closed an equity fund raising for therapeutic garment maker Squease Ltd.
Envestors Rising Stars, a specialist service for early-stage businesses, raised £125,000 from three investors in its network.
The investors include Mike Greene, the social entrepreneur and star of Channel 4's The Secret Millionaire.
A further £50,000 was provided by UnLtd, a charitable organisation set up by organisations that promote social entrepreneurship.
Funds raised will be used by Essex-based Squease for working capital, hiring key staff and global IP protection.
Tom Billings, an investment manager at Envestors, said: "Squease is a highly innovative product that performs a social good and we're very proud to have provided the financial backing needed to help accelerate the growth of the business."
Squease, originally a spinout from the Royal College of Art and Imperial College, received seed funding from Innovation RCA, the incubation unit of the Royal College of Art.
It makes an award-winning therapeutic garment which helps individuals with autism better deal with anxiety.
The company's inflatable pressure vest delivers “hug-like pressure” to the upper body which is scientifically shown to help individuals with sensory integration issues.
The current design is specific to individuals with autism but can be used for individuals with ADHD, developmental delay, cerebral palsy, dementia and Down's syndrome.
Squease has now entered into a distribution agreement with a large international mail order catalogue supplier of special needs products.
Mike Greene said: "I put up my own money for Squease as this is exactly the sort of business I like to be involved in - one that brings positive change as well as financial rewards."