Manchester-Based Female-Founded Startup Needi Raises £1.4 Million in Seed Funding to Revolutionise Corporate Gifting with AI-Powered Solutions

A Female-Led Tech Success Story Breaking Barriers in Fundraising

needi.co.uk, a female-founded tech startup that specialises in sourcing unique, sustainable corporate gifts and branded merchandise from local, independent businesses, has raised £1.4 million in funding, despite the challenges faced by women in venture capital fundraising.

The latest round, which closed in June 2024, secured £895,000 ($1.18M) from prominent investors such as Clarendon Fund Managers and Techstart Ventures, solidifying needi’s position as a rising star in the tech space.

The funding will enable needi to continue its rapid growth trajectory, equipping the company to meet the high volume of orders it has received for the Christmas season and ensure timely, efficient delivery for its clients.

needi’s impressive fundraising has been backed by angel investors who are leaders in the tech industry; including exited tech founders, EY partners, and senior executives from top tech companies. These investors not only provide capital but also offer strategic insights to fuel needi’s growth.

Founded in 2021 by Louise Doyle and Steph Scholes, needi’s journey to securing investment has not been without its challenges. Only 1.4% of all UK venture capital goes to female-only teams, according to the British Business Bank, which makes it even more remarkable as Doyle and Scholes were both balancing the rigours of fundraising with pregnancy and motherhood. 

Louise Doyle, co-founder of needi, said: “We’re incredibly proud of what we’ve achieved so far given the barriers that female founders face when fundraising.  This investment will not only enable us to grow but also to continue our support of local, independent businesses and sourcing sustainable corporate gifts and branded merchandise.”

needi is reshaping the corporate gifting and branded merchandise industry by sourcing from local independent businesses, helping them thrive in markets dominated by large corporations. needi has already generated over £1M in sales for local businesses and is working with major clients including Meta, Spotify, Intuit QuickBooks and Amazon.

With its unique blend of AI-driven technology and human expertise, needi ensures that its corporate gifts and branded merchandise align with clients’ ESG and sustainability goals, offering a socially conscious alternative to traditional corporate gifting.

Claudine Owens, Investment Manager at Clarendon Fund Managers, said:

“Needi’s seamless, tech-driven solution to sourcing high quality, unique gifts has the potential to revolutionise corporate gifting strategies.

“I am delighted to be working with both Louise and Steph on the exciting journey ahead.”

Studies from the British Business Bank indicate that female-led startups generate 20% more revenue per pound invested compared to their male-led counterparts, highlighting the financial strength of businesses like needi.

For more information or to try needi’s gift finder, click here.