Inamo, the Sydney startup known for making waterproof wristbands and sunglasses that double as a contactless bank card, has secured $1.5 million of seed funding led by Club Investible.
Investible’s $1 million contribution is its single largest investment into an Australian-based startup. The other $500,000 was sourced from unnamed private investors. Inamo founder Peter Colbert, who has started various tech businesses since leaving the world of sports management in 1999, said that Investible brought a lot more than just a truckload of cash.
“You can get dumb money. Through the dot com boom and bust I went through it – and I promised myself I’d never do that again,” he told Business Insider.