Recalling the photographic process of yesteryear, London’s Lapse closes $ 11million fundraising round – Tech.eu
London-based Lapse has secured $ 11 million in funding as part of a funding round. Recalling the era of disposable film cameras, Laps allows a group of close friends to capture and share photos with a retro warning; a 24 hour delay; reproducing the time when a photo lab was involved in the process. The platform seeks a more authentic social experience, avoiding the “like” button, and thus removing societal pressures and user anxieties. The $ 11 million seed round comes on top of the $ 1.4 million pre-seed round announced just four months earlier by Lapse and provides the startup with a total of $ 11.4 million.
Despite being online less than a month ago, the startup is posting impressive numbers; citing over a million images captured and shared, with power users recording some 200 images per week. The app still resides in the neighborhood by invitation only, as founding brothers Ben and Dan Silvertown, aim to carefully design the user experience, prioritizing product development and a controlled growth rate in relation to the number of users.
Building on the #nofilter approach to photo sharing, the Silvertown brothers presented their offering in the hopes of helping users visually share their experiences, but without the rigging of the system via a “like” button. or societal pressures of numbers, factors often found in “other” public photo / social media sharing.
Ben Silvertown explains, “Lapse does not allow you to review, edit, or organize photos in a way encouraged by other platforms. The emphasis is on enjoying the moment, rather than trying to showcase it. People take and share photos on Lapse of things they otherwise wouldn’t have had. By removing the pressure for perfection and the mental barrier when we examine photos, a whole new world of more “real” photos is unlocked.
And while the app doesn’t allow users to edit their own photos, a retro style is automatically applied to the images through the app’s proprietary processing engine. This engine has been developed and tested with over 30 professional photographers to mimic the distinctive appearance of film photography,
Lapse’s $ 11 million funding round was led by Octopus companies and GV, and saw the participation of the existing investor Speedinvest, and new angel investor, (ironically) inventor of the “Like” button Soleio Cuervo.
“Lapse is a next-generation private social network, launched at a time when consumers are fundamentally rethinking their relationship with traditional players. With Lapse, the consumer is no longer the product. This radical change in mindset allows users to communicate freely in private groups and provide snapshots of their lives. The design of the product also means that users no longer have the social pressure to present themselves in a certain way and are instead encouraged to be authentic, which has a profound impact on the way we communicate, ”commented Octopus Ventures. ‘ Matt Chandler.