Gifting start-up Needi secures £1m plus in venture round

A female-founded tech startup that specialises in sourcing unique, sustainable corporate gifts and branded merchandise from local, independent businesses, has raised £1.4 million in funding.

Needi, based in Manchester, secured £895,000 ($1.18M) from prominent investors such as Clarendon Fund Managers and Techstart Ventures, in a funding round, which closed in June 2024.

Founded in 2021 by Louise Doyle and Steph Scholes, who were both balancing the rigours of fundraising with pregnancy and motherhood, the funding will enable Needi to grow, equipping the company to meet the high volume of orders it has received for the Christmas season and ensure timely, efficient delivery for its clients.

Funders include angel investors in the tech industry; including exited tech founders, EY partners, and senior executives from top tech companies. These investors not only provide capital but also offer strategic insights.

Louise Doyle, co-founder of Needi, said: “We’re incredibly proud of what we’ve achieved so far given the barriers that female founders face when fundraising.  This investment will not only enable us to grow but also to continue our support of local, independent businesses and sourcing sustainable corporate gifts and branded merchandise.”

Needi sources branded merchandise from local independent businesses, it has generated £1m in sales for local businesses.

Claudine Owens, Investment Manager at Clarendon Fund Managers, said: “Needi’s seamless, tech-driven solution to sourcing high quality, unique gifts has the potential to revolutionise corporate gifting strategies.”