Ananda backs Insane Logic

The fresh capital has been earmarked for the roll-out of Insane Logic's suite of MyChoicePad software and tools. It will also be used to help form partnerships with education and disability service providers.

Ananda stated it invested to ensure more people with communication difficulties had access to speech and language therapy. The social venture fund said Insane Logic contributes to a greater ability to communicate, increasing self-confidence and reducing the isolation felt by individuals.

Ananda's second fund held its final close in July this year, exceeding its €20m target and falling just short of its €22.5m hard-cap. It spent a year raising and received €22.3m in commitments. The vehicle is more than three times larger than Ananda's €7.3m first social venture fund. Typical investment size lies between €1-1.5m.

Company
London-based Insane Logic is an educational technology social enterprise that creates mobile apps for language development. Its four apps, including the tablet app MyChoicePad, reach 53,000 parents and carers to improve communication with the children and adults they care for.

It has a team of eight people with 22 trainers across the UK.

People
Lennart Hergel is an investment director at Ananda. Zoe Peden is co-founder and CEO of Insane Logic.

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