Blipfoto raises £200,000 - The Scotsman Photography website Blipfoto tonight revealed that it had raised a further £200,000 in funding to accelerate its overseas expansion. ESM Investments led the fundraising round, which featured existing investors including chairman Ian Ritchie, the Scottish Investment Bank and Ken Morse, one of United States President Barack Obama's entrepreneurship advisors. Edinburgh-based Blipfoto, which has now raised a total of £900,000 through four fundraising rounds, has also appointed former Vodafone executive Shane Heenan as its sales and marketing director. In January, Morse told Scotland on Sunday that Blipfoto was on-track to become a "$1 billion company."