Manchester-based SaaS platform Fireflai has secured a £415,000 pre-seed investment from DSW Ventures.
The software company was founded by experienced entrepreneurs Tom Gardner and Craig Sumner in 2023 and uses advanced AI to fix the problem of chaotic and fragmented product data.
Gardner previously founded Robiquity in 2016 with Chris Wright and Jack Rimmer to meet the growing demand for robotic process automation (RPA).
Sumner previously worked for Deloitte and Rubix and is an expert in digital process transformation
Fireflai uses advanced AI and data science to help businesses streamline vast and inconsistent product datasets, saving costs and enabling better decision-making.
The company’s rapid progress has also attracted industry heavyweight Laura Malins, formerly of Manchester unicorn Matillion, on a non-executive basis.
Gardner, CEO of Fireflai, said: “This investment marks a huge milestone for me personally and for our business.
“Craig and I started the business over pizza and beers in 2023, and it’s great to see our vision come to fruition and very quickly add real value to our clients.
“DSW Ventures has worked incredibly closely with us on developing our business plan, refining our product strategy and developing our team. We are extremely excited about the next chapter for Fireflai – building on our early promise to create yet another successful Manchester technology company.
“Whilst arguably building and exiting Robiquity will be seen as the pinnacle of my professional achievement to date, there is something equally, if not more rewarding in securing VC backing given that you’re asking highly credible individuals / investors to back what at this stage is a vision, without the KPIs and proof points that an established business can show.”
Keith Benson, partner at DSW Ventures, said: “Fireflai’s blend of commercial and product expertise, alongside a compelling customer proposition, immediately stood out to us.
“We are very confident that Fireflai’s will transform how product-centric companies will manage their data, addressing a critical pain point. We would like to congratulate Tom, Craig and their team – it’s been a privilege to work with them on this investment.”
DSW Ventures made its first investment in 2018 and is an investor in early-stage scale-up businesses requiring venture funding of more than £100,000 on a SEIS or EIS basis.
It is funded by a growing network of high-net-worth angel investors. DSW Ventures is the trading style of DSW Venture Capital LLP, which is part of the Dow Schofield Watts group.