Seed funding deal

E-commerce firm Machine Labs raises £1m ‘at difficult time’

Andrew Veitch

Andrew Veitch: great first year

Machine Labs, the automated e-commerce platform, has raised £1 million in seed funding led by Techstart Ventures alongside the founders, the angel investors Bill Dobbie and Richard Freedman, and the British Business Bank.

An additional £100,000 was provided in grant funding by Amazon and Scottish Enterprise.

Andrew Veitch, Founder and CEO of the Edinburgh-based company, said: “We’ve had a great first year with over 300 e-commerce stores from 23 countries choosing Machine Labs to increase their sales.

“We work exclusively with Shopify who power over one million web shops around the world, of which 80,000 are in the UK. We are planning to add other e-commerce platforms next year.”

Covid-19 caused disruption to the funding round and forced the cancellation of several critical business meetings in North America but it also resulted in an increase of 57% in usage of Shopify as high street shops were forced to switch to e-commerce.

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