LOVESPACE offers by-the-box storage and storage unit services with collection and delivery in the United Kingdom. The company also provides packing and shipping services as well as operational and logistical support to small businesses by transporting equipment, storing archival documents and storing surplus stock.[1][2][3]

LOVESPACE
Websitehttp://lovespace.co.uk
TypeStartup
FounderBrett Akker
Managing DirectorSteve Folwell

HistoryEdit

LOVESPACE was established in 2011 by cofounders Brett Akker and Carl August Ameln. Brett Akker had previously founded the carsharing company Streetcar. Carl August Ameln was the founder of City Self-Storage, a multi-national chain of self-storage centres. Ameln had previously been an investor in Streetcar.[2][4]

A pilot service launched in 2012 and in 2013 LOVESPACE hired Steve Folwell as managing director. He was previously the director of business development and group director of strategy at the Guardian Media Group. With a focus on students, house movers and space-constrained and small businesses, the company launched a full service later that year. Steve Folwell was promoted to CEO in 2014. In 2015 LOVESPACE moved to a new warehouse in order to accommodate growth.[2][5][6]

In 2018 LOVESPACE launched operations in Dublin. The following year, in 2019, LOVESPACE elected Will Edwards as the new CEO, having previously been in the company as Finance and Commercial Director since 2017.

In 2020 LOVESPACE launched their packing service and packed rooms for thousands of students displaced by the COVID-19 pandemic. Later that year they launched a new storage unit service offering storage by the square foot alongside their existing by-the-box storage service.

InvestmentEdit

Smedvig Capital[7] and First Risk Capital were initial investors.[8] Both companies have had experience in the storage industry. A 2014 fundraising campaign on the crowdfunding platform CrowdCube raised £1.55m, surpassing its £600k target to be overfunded by 167%.[9][10]

In 2015, the company raised £1.1m in a round which was led by commercial property provider Workspace Group bringing the total funding to £4m.[11]

Since 2015, LOVESPACE has raised an additional £4m of funding including an investment of £1m in 2017 from Intespace, a South African storage company.

AwardsEdit

Since it was founded, LOVESPACE has won multiple awards and has been named High Growth Team of the Year, The UK’s Most Innovative Business, Crowdfunded Business of the Year, and one of the 50 fastest technology companies in the UK.[citation needed]

ReferencesEdit

  1. ^ "LOVESPACE". LOVESPACE. Retrieved 17 August 2015.
  2. ^ a b c "Streetcar founder joins space race". FINANCIAL TIMES. Jonathan Moules, Enterprise Correspondent. Retrieved 17 August 2015.
  3. ^ "Lovespace hits £1m in sales moving boxes for start-ups". The Telegraph. Rebecca Burn-Callander. Retrieved 17 August 2015.
  4. ^ "'I put more money into Lovespace than anything else in my life' - Brett Akker, founder of Lovespace and Streetcar". ManagementToday. Rachel Savage. Retrieved 19 August 2015.
  5. ^ "LOVESPACE Makes Room: UK's Box Storage Start-Up Overfunds on Crowdcube". Crowdfund Insider. Crowdfund Insider. Retrieved 19 August 2015.
  6. ^ "LOVESPACE FILLS SPACE AT THE TOP". LOVESPACE. Retrieved 17 August 2015.
  7. ^ "Smedvig Capital - LOVESPACE". Smedvig Capital. Retrieved 17 August 2015.
  8. ^ "First Risk Capital Holdings". First Risk Capital Holdings. Retrieved 17 August 2015.
  9. ^ "The top 15 most oversubscribed equity crowdfunding projects". RealBusiness. RealBusiness. Retrieved 18 August 2015.
  10. ^ Wallis, Ian (June 3, 2014). "LOVESPACE closes £1.6m crowdfunding round". Startups. Startups. Retrieved 24 August 2015.
  11. ^ "LOVESPACE takes total funding to £4m with latest investment". Startups.co.uk. Retrieved 17 August 2015.