This offer is closed
| About this deal | What to expect post-investment |
|---|---|
| This is a co-investment alongside Haatch Ventures LLP, which has reviewed the opportunity and selected it for its Haatch EIS Fund 18. Please read the offer documents carefully. | Haatch Ventures, the EIS fund manager, will produce initial and ongoing shareholder documents. |
This overview is provided to make it easier for you to form your own view about the opportunity.
Fast-growing consumer research AI software, hailed by Google as helping to “redefine the future of research”, growing monthly recurring revenue 50% month-on-month
Beings (“Beings Beam Ltd” or “the Company”) has created software, including AI assistant Aida, to help businesses do consumer research in the fraction of the time and at less cost.
Launched in 2023 and hailed by Google as helping to “redefine the future of research”, Beings has secured major enterprise clients Google, cybersecurity industry body ISF, and data solutions giant SAS. The Company targets research agencies, as well as enterprises with in-house research teams.
Beings is led by a team which has had previous roles at blue-chips including Google, Canon and Ogilvy; founder and CEO Dave Johnstone was formerly Technical Director for Netflix, Microsoft and AWS. The team has attracted further top talent from Samsung, Skype and Starling Bank.
The Company is currently growing monthly recurring revenue (MMR) 50% month-on-month – aiming for £100k MRR in 2025 – not guaranteed. Google and ISF recently expanded their contracts, increasing annual values by 144% and 80% respectively.
Beings is now seeking to raise up to £2 million, to support its next phase of growth through product R&D and investment in sales and marketing.
Haatch has committed £400k (including £100k investment from British Business Bank). Existing investor Blackfinch Ventures has also committed £1 million. Wealth Club has an exclusive allocation of £500k, investing on the same terms as Haatch and Blackfinch.
Haatch believes the investment could potentially deliver a return in the region of 7-10x after five years – high risk and not guaranteed.
Please carefully read all investment documents prepared by the Company and Haatch to form your own view.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.
Hear it from the founder: interview with Dave Johnstone
Aiming to disrupt a high-value, high-growth market
Over $84 billion was spent on market research globally in 2023. The industry is a valuable resource to business and advertising agencies, and the leading market research companies are multibillion-dollar businesses – the likes of Gartner, IQVIA and Ipsos.
That said, carrying out qualitative research (surveying consumers on their attitudes and preferences) tends to be time-consuming and expensive. Each study is estimated to take on average over 120 hours to complete and costs $12k to commission.
The bulk – up to 80% – of research time is spent on laborious tasks – from transcribing the interviews to coding the data. This admin has to be done before analysts can start work to glean insights. In addition, manual data processing can be prone to human error.
As the demand for qualitative research grows, so does the need to address speed and accuracy bottlenecks.
Beings has created AI tools – including a research assistant AI named Aida – to lift the admin workload for both research agencies and in-house research teams.
Aida transcribes audio material in real-time, and its data coding tool scans through to identify themes and patterns automatically – transforming raw data into structured, actionable insights ready for researchers to analyse immediately, potentially saving days, if not weeks.
This can help research agencies power through more projects for customers, and to a high standard – including depth of detail, quality analysis, reduced bias, and speed to insight. Meanwhile, for in-house research teams, Aida simplifies and speeds up how the business can gather consumer insights, to make informed decisions more agilely.
We've been thrilled to partner with Beings over the past year to redefine the future of research.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment.
Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief. The value of tax benefits depends on circumstances and tax rules can change.
Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Please note: the Company is expected to be included in the current tranches of Haatch's funds.
Structure and fees
Investors will invest in Haatch EIS Fund – Beings, an Alternative Investment Fund, designed to deploy capital exclusively in Beings Beam Ltd. The fund is managed by Haatch Ventures LLP, whilst Apex Unitas Limited will act as the custodian and administrator. Wealth Club Limited is the introducer of this offer.
The investment is expected to be EIS-qualifying – not guaranteed.
Wealth Club investors will invest at the same price and on the same terms as the other investors in this round, at a pre-money valuation of £8 million.
All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.
Fees
A set-up and management fee of 10% will be payable to Haatch (which will share it 60/40 with Wealth Club). This fee will be deducted from your subscription and will reduce the amount invested and on which tax relief can be claimed.
Haatch will also receive a performance fee on returns over £1 per £1 invested: 25% on proceeds between 1x and 5x, 30% on proceeds over 5x.
The fees and charges above are stated exclusive of VAT, which applies in some cases, as determined by the manager. Please check the VAT position carefully in the offer documents.
This financial promotion has been communicated and approved by Wealth Club Ltd on 6 March 2025
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.