Stamp Free secures £1 million investment to brings AI digital postal technology to wider audience
Stamp Free, an AI powered digital post and shipping company, is gearing up for expansion after receiving £1.08 million from various investors and supporters.
Based in Edinburgh, the firm attracted equity investment led by Silicon Valley based R42.
Stamp Free also invited backing from equity crowdfunders, through the Seedrs platform, pulling in over 600 investors.
Stamp Free's CEO, Hugh Craigie Halkett, says: “We are immensely thankful to our investors and supporters who share our vision for a future where postage and shipping is seamlessly integrated into the digital landscape.”
“This funding will enable us to accelerate the development of our cutting-edge solutions and bring them to a wider audience.”
“From our own independent research, we know that 93% of consumers would rather use our technology than other postage/shipping methods when sending parcels, letters and online returns. This fundraise has really proven that there is a strong appetite for our technology to be implemented across postal and carrier networks.”
Stamp Free provides a digital platform that aims to simplify the process, reduces costs, and minimises environmental impact.
The funding round will enable the business to invest in product development to expand its portfolio of AI postal and shipping solutions, in particular its original label free offering and its new AppFree solution which enables consumers to send parcels and online returns using WhatsApp – no need to download a postal or carrier app.
Stamp Free will also be looking to scale its team to support the acquisition of new customers.
Dr. Ronjon Nag, Chairman at R42, comments: “R42 continues to invest in Stamp Free for three core reasons; it is driving innovation in the postal sector through the use of AI making managing parcels and letters more convenient for the sender, it drives ROI for post and carrier companies and it is also beneficial for the environment.”
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