Spapliance set to launch with investment duo
Spapliance, based in Stratford-upon-Avon, has received £120,000 of funding from two investors to help launch its debut product. The spa product manufacturer received the finance from the University of Warwick Science Park’s Minerva Business Angel Network and Midven, the Birmingham-based specialist venture capitalist.
The company was formed by couple Jane Scrivner and Kevin McWilliams. The two are now launching their first product - The Orb – after presenting it at the Professional Beauty 2011 exhibition at London's ExCeL venue.
The device is a portable, continuous heat chamber for warming skincare products such as waxes, clays and mud.
Giovanni Finocchio, investment manager from Midven, said: “We invested in Spapliance because the management team know their market, they have an innovative product which they have protected with a patent.
“The success of the company doesn’t just rely on this one product, as the company has a pipeline of products. All in all, these are exciting times for the business.”
Midven’s portion of the finance was derived from its Early Advantage fund.
