INSIGHTS / News

Bristol SETsquared member, YellowDog, has recently completed a successful round of crowdfunding on Seedrs, netting an impressive 91% of their total in just one week.

Founded in January 2015, YellowDog, is developing an application that uses people’s spare computer processing power to help animation companies render graphics. So essentially crowd-sourcing processing power and passing that on to animators.

The money raised will help accelerate the commercialisation of the product which is due for launch in October, with the majority being spent on further research and development and the remainder on marketing and launching the product.

Commenting on the speed in which YellowDog reached their funding target Gareth Williams, Managing Director, says: “I believe having clear objectives, sound preparation, a really good promotional video to support the business case and quick responses to any queries enabled the company to raise the money so quickly. We attracted 155 investors in total, which is fantastic validation of our idea.”

SETsquared has provided the company with support throughout the process. Nick Sturge, Bristol SETsquared Director, first suggested that they consider crowdfunding and support was then provided by the Entrepreneurs in Residence to hone their business plan and put together the promotional video which was used on their crowdfunding page.

Find out more about YellowDog