The Companies Office register records Hydroxsys as being backed by a number of well-known venture capital investors: Sir Stephen Tindall’s K1W1 (7.94%), Icehouse Ventures (4.35%) and Aspire NZ Seed Fund (4.08%) are listed as shareholders in the holding company.
Many of these investors had come on board more than a decade ago. Reports from 2014 said the company had raised $2.1m in seed funding, followed by another $3m in 2023.
Shepherd and Kellow’s report says employees were owed $80,975, but an ongoing Employment Relations Authority case was likely to see another $110,501 added to this.
The earlier effort to find a solution through voluntary administration comes into sharp focus when assessing the sums owed to Inland Revenue, the…