Envestors closes £1 million fundraising for Olly

Business angel network Envestors has closed a £1 million fundraising for Olly Limited, the company that produces animated children's TV series Olly the Little White Van.

The programme debuted on CiTV and ITV1 in June this year and by 7 August viewer numbers had increased by 233 per cent compared with the first episode, according to a statement from Envestors. From this month, the programme will screen twice daily.

Olly Limited chief executive Henry Becket says the funds raised will pay for the making and marketing of a new series. The children’s television show and brand is the first of several planned by Ideas at Work, the creative company behind the project that was also founded by Becket. The company is also looking at revenue growth for the brand by pursuing opportunities in licensing, toys, broadcast and digital sectors.

A total of £3 million has been raised for Olly since March last year. Becket comments, ‘Olly the Little White Van is increasingly popular online and offline as well as on air. It has been hard work and that continues, but also enjoyable.’

Scott Haughton, director of Envestors, adds. ‘Olly impressed us as a business model entirely different from its industry peers – one that creates a holistic brand with 21st century tools, and is serviced by highly talented people.’

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.