Light-bulb moment

Koovs, the Indian online retailer compared to Asos, has raised £18.9m to help fund its expansion. Lord Waheed Alli, its chairman, is investing £7.4m into the business through convertible loan notes, while the company has the potential to secure a further £2.5m from other investors. Koovs, which lists on Aim, grew sales by 87pc last year to £18.6m.