Social platform Miigen secures £250,000 fund injection
An online social platform aimed at enabling older people to create a 'digital time capsule' of their lives has secured £250,000 in backing from a number of high-profile investors.
Miigen set out to raise £150,000 to fund its first year of operations but exceeded its target within seven days in a first-round investment.
The funds raised are on top of initial capital of £200,000 secured by owner Craig Lemmon through his Stirling-based software development company, 2e-volve.
• READ MORE: ‘Digital time capsule’ Miigen in funding drive
Miigen provides older people with a safe, secure space to digitally store memories and to leave a lasting legacy for their families and friends.
One of the investors to support the funding round is Tony Banks, founder and chairman of the Balhousie Care Group.
“When I hear of a new product that enhances the lives of older people and keeps afresh their relationships with family, friends and future generations I get energised and excited,” he said.
“Miigen is just such a breakthrough. A ‘digital time capsule’ created here in Scotland and with the possibility of changing lives across the globe.”
Miigen, which is currently looking to forge links with a number of age-related organisations. is targeting 10 million customers by 2022, and Lemmon said the potential for the plaform is huge.
He added: ”There are 1.71 billion over-50s around the world, of whom 47 per cent are internet-connected. Of that percentage, 74 per cent use social media – a target demographic of 602 million.”