578,000 euros for game studio Salty Lemon

Challenge:

Because EXR would be launched publicly, the founders of Salty Lemon needed external funding to market the platform. EXR also requires further development and this required additional funding.

Approach:

First, a financial plan was drawn up. Based on this, the funding gap for the next five years was determined and advice was drawn up. We opted for a phased approach so that the funding shortage was gradually filled. For example, EXR can still build its track record and appeal to financiers with already captured data at a later stage.

When we noticed that reaching our set amount in this round would be difficult, especially due to the early-stage nature of this application, we downsized the cash flow plan. For example, the current funding shortage was reduced, so that the amount we had to raise was more in line with the current reality. This, however, is with a view to working towards the next funding round within approximately one year.

Result:

Three different parties invested in EXR: Allusion, Skyline Communications and imec. That resulted in 185,000 euros. In addition, Vlaio awarded a subsidy of 250,000 euros. And as icing on the cake, WinWinner raised 143,000 euros in win-win loans and crowdloans (subordinated loans).

With this total funding of 578,000 euros, the company can manage the launch, recruit the right people and the founders have time to show what potential the platform has.