Tuesday 13 April 2021 11:32 am

Tracking tech firm Buddi homes in on £500m London float

A British tech firm that makes trackable wristbands is gearing up for a £500m stock market float in London.

Buddi, which was founded by serial entrepreneur Sara Murray, has appointed Zeus Capital to oversee a listing later this year.

Read more: Pensionbee targets £384m valuation as it gears up for London float

The company produces wristbands that can be worn by vulnerable people. The bands can be connected to a smartphone app, giving information about the wearer’s location or if they fall.

Murray created a marketing software product for major companies including Glaxosmithkline and P&G before setting up price comparison site Confused.com.

She founded Buddi in 2005 after briefly losing her five year-old daughter in a supermarket.

The company’s technology is used by more than 80 per cent of local authorities in the UK, as well as government customers around the world.

It is also used by several UK police forces in domestic violence cases and for witness protection.

The listing, first reported by Sky News, is expected to value Buddi at up to £500m and will provide a bumper paper payday for Murray and other early investors.

It will also come as a boost to the London Stock Exchange, which is looking to attract a number of tech companies to its index this year.

Read more: Darktrace revenue hits $200m as it confirms London float

Deliveroo dominated the headlines following its disastrous initial public offering last month.

However, Moonpig and Trustpilot have already floated, while Darktrace yesterday confirmed plans to float in London.