Technology entrepreneur who introduced Rachel Reeves ahead of her speech at the Labor Party conference this autumn is raising £5m for her architectural technology start-up.
Sky News understands that Resi Design, which was co-founded by Alex Depledge and counts broadcaster ITV among its shareholders, is in detailed talks to close a funding round that would value it at around £20m.
Investment funds Nesta and Foresight are in talks about pumping just under £5m into the company, the sources said.
Foresight is also understood to be acquiring a stake in Resi Design, which is owned by Omers’ venture arm, the Canadian Pension Fund.
Resi Design was founded by Ms Depledge and Jules Coleman in 2017, and has previously expressed an ambition to float on the stock market at some point.
The company is headed by Tim Wheeler, a serial entrepreneur who oversaw Trustpilot’s listing on the London stock market.
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Originally called Buildpath, Resi Design aims to provide a one-stop service for homeowners looking to build or extend their properties.
Last year, ITV’s media-for-share division took a stake in the company for up to £3m of advertising stock.
Ms Depledge addressed the Labor conference just before the Chancellor’s speech last month, telling delegates: “If I had to pick an intelligent person to run this nation’s spreadsheets, I would choose Rachel… If I had to pick a leader to support high growth and balance In our notebooks. Once again, I chose Rachel.
The co-founder of Resi Design has been contacted for comment.
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