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05-11-2017 - Modwenna Rees-Mogg - 0 comments
Angel Deal of the Month - Pixey.io seals GBP250k funding

Pixey.io was founded by Sarah Stenhouse to enable broadcasters and publishers to obtain the digital rights to Instagram photographs has secured almost £250,000 in seed funding. A long time user of Instagram, Sarah thought of her business idea of using photographs from the social network in 2015 while trying to source an image in her former role at an advertising agency.  The company contacts photographers posting on Instagram to request use of their images and arranges copyright and payment.

The cash will be used to add five new members of staff over the next six months to introduce artificial intelligence technology and grow its international profile.

Equity Gap, Gabriel and Scottish Investment Bank have invested a total of £213,000 with a further £30,000 from Robin Knox and Paul Walton of Intelligent Point of Sale.

Before launching Pixey.io, Sarah worked with clients including Skyscanner, Skills Development Scotland, Scottish Government and Vets Now.  Since the business inception she has supplied a number of clients including a major high street bank and international advertising firm. Pixey.io was also a finalist in Deloitte’s Disrupt the Enterprise 2017 awards recognising the most talented and disruptive tech start-ups.

This is the latest example of the disrupters being disrupted and plays into the new trend of enabling individuals to monetise activities that were previously seen as hobbies. One of the charms of this content is that the photos are "real" unlike many staged stock photographs.

According to Fraser Lusty, the stock photography market is estimated to be worth $3billion annually.  So yet again angels are finding deals with the potential for exponential growth is alive and kicking.  

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