Energy managing business crowdsources cash

An energy management company which makes smart meters is crowdsourcing cash to grow the business. Enistic Limited based in Oxford has so far drummed up a fifth of its £125,000 target […]

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By Vicky Ellis

An energy management company which makes smart meters is crowdsourcing cash to grow the business.

Enistic Limited based in Oxford has so far drummed up a fifth of its £125,000 target in the first week since posting on money raising site Crowdcube.

Founder and internet entrepreneur Darryl Mattocks, who sold one of the first websites in the world, the Internet Bookshop, to WH Smith in 1998 for £9.8m, said: “In this climate of spiralling energy costs, I was optimistic that our fundraising would be successful but we were unprepared for the level of response we received.”

More than 20 investors from all over the UK have chipped in sums ranging from £10 to £15,000.

If the level of interest in shares keeps up, Mr Mattocks said he hoped to be fully funded within three weeks.