FSP advises FSE on GoKart investment
Thames Valley Berkshire Growth Fund invests in technology platform.
Corporate partner Penelope Garden has advised Thames Valley Berkshire Growth Fund, managed by The FSE Group on an equity investment into GoKart, a technology platform that specialises in linking wholesale food suppliers with restaurants. The funding round also included investment by high profile private angel investors.
GoKart based in Reading, Berkshire, have developed an app that allows restaurants to order high quality ingredients from vetted suppliers in a quick and easy way. The company offers restaurants a saving of up to 20% on their ingredients by combining their buying power within the app which gives independent restaurants and small and medium sized chains the same prices and discounts that are offered to larger chains.
Simon Labahn, Fund Manager at The FSE Group, who manage the Thames Valley Berkshire Growth Fund on behalf of the Thames Valley Berkshire Local Enterprise Partnership, says, “GoKart received phenomenal support early on in 2016 from Just Eat’s Food Tech Accelerator Programme. Since then, the company has continued to grow and work tirelessly to perfect their platform. We were immediately impressed by the company’s highly experienced management team and their ability to analyse a high volume of data. Access to such valuable data and a team with the skills to analyse it means GoKart is able to learn, adapt and lead the way in identifying the latest trends. We are excited for the future of GoKart and wish the team every success.”
TVB Growth Fund is part of Thames Valley Berkshire Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP to support job creation and economic prosperity in Berkshire. The escalator, which also includes four separate loan schemes, provides eligible companies – from start-up to established – with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities. For more information about the Thames Valley Berkshire Funding Escalator, please visit www.thefsegroup.com/thames-valley-berkshire-funding-escalator.