Stamp Free valued at £4m in latest funding round
Stamp Free, the digital postage company, has raised £600,000 in an oversubscribed funding round as the business progresses towards the commercial launch of its AI phone-based alternative to traditional mailing and returns.
The Edinburgh and Cambridge based company had a pre-investment valuation of £4m – double the value at Seed One funding in September 2021.
Its solution is now being trialled by postal carriers, retailers and locker providers around the world. Stamp Free expects the solution to be available for consumers later this year.
Investment was led by existing investors Silicon Valley-based R42 Group and Cambridge Angels along with other technology angel investors from the UK, US and Australia. The proceeds will be used to increase sales & marketing activities to ramp up commercial traction and for further product development.
Hugh Craigie Halkett, managing director of Stamp Free, said: “This investment signifies a further endorsement of the Stamp Free solution, which is poised to disrupt the postal and logistics industry.
“We’ve made excellent progress since our last funding round, commencing trials with postal carriers, retailers and locker providers around the world, and this new raise will accelerate our development.
“We thank our existing investors for their continued support and welcome our new investors to our journey – we are incredibly excited about what the next year has in store for Stamp Free.”