Sydney Startup Tapestry secure $600,000 investment!
Sydney based startup Tapestry has secured $600,000 investment, the round was led by the Sydney Angel group of Investors. The company is building a simple to use platform that brings all forms of social media together in one easy to use interface for seniors and their families. The fear of being so exposed on the internet is still a real barrier to entry for a lot of people and they are trying to allow people to get that social experience they want of viewing photos, videos and engage in conversation without the often confusing maze of ads, popups and news feeds.
“Securing seed funding is a pivotal point in a tech startup’s lifecycle. We’re thrilled to have won the trust and confidence of our investors and its very exciting to know we have the initial capital now to make our vision a reality” says founder Andrew Dowling.
“Our goal now is to build the first commercially viable version of the product, prove out the business model and validate the opportunity sufficiently for us to seek next-stage growth capital,” Dowling said.
I think the cool thing about this business is not the fact they are creating a something that curates social media, that has been done many times to varying degrees, what I really like is the hardware associated with the product, a simple easy to navigate tablet specifically for their product. It means that their target market do not even need to navigate the interwebs to find the Tapestry website if they do not want to.
I do think however their sales targets are different to their user targets – and if they position this product as the perfect gift for mum and dad / grandma and grandpa etc possibly with a strategic partnership in family oriented stores such as KMart, Walmart and Target their hardware will be right in front of the eyes they want to be talking to.
Neil Bourne, of Nextec Strategic Capital, said Tapestry has a real shot at changing how families interact across generations around the world. “We’re very excited about what Tapestry is creating. It has the potential to not only improve the quality of life for many seniors, but challenge the way the aged care industry delivers its services.
Tapestry have already started winning awards and grants for their innovations in this space including a grant from Commercialisation Australia.
I would totally buy this product for my mum, who refuses to get on facebook. Not Nan though, she is basically a hacker compared to mum – she just told me she is now joining twitter so she can join in the conversation during Bold and the Beautiful. #Legend.