Funding Overview
Condelo is raising a £1.5M seed round to fund 18 months of product development, early go-to-market activities, and operational costs. The round is designed to take us from MVP to first meaningful revenue, establishing the traction needed for a Series A raise. Capital will be deployed with a strong bias toward engineering, reflecting our conviction that the product is the primary growth lever at this stage.
Allocation Breakdown
| Category | Amount | % |
|---|---|---|
| Engineering | £900K | 60% |
| Go-to-Market | £375K | 25% |
| Operations | £225K | 15% |
Engineering — 60%
£900K — Platform development, AI capabilities, infrastructure, and scaling. Covers hiring of senior backend and ML engineers.
Go-to-Market — 25%
£375K — Sales team, marketing activities, conference presence, and strategic partnership development.
Operations — 15%
£225K — Legal, administration, office costs, and contingency reserve for unforeseen requirements.
Milestones Funded
Complete enterprise feature set including SSO, audit logging, role-based access, and advanced reporting.
Achieve first 10 paying customers across financial services and healthcare verticals.
Establish 3 strategic partnerships with consulting firms and system integrators.
Reach £100K MRR as the key trigger for Series A fundraising conversations.
Timeline
| Period | Focus |
|---|---|
| Months 1–6 | Product completion and first paying customers |
| Months 7–12 | Scale sales operations and establish partnerships |
| Months 13–18 | Growth acceleration and Series A preparation |