Lapse Raises $11 Million

Lapse, an app that lets users form groups, and then lets those groups collaborate, wherever they are, to take spontaneous pictures on collective “rolls” of 36 photos that are then “developed” — and only shown to the group — 24 hours after the roll has started, with a little bit of chit-chat in between, has raised $11 million in a seed round of funding. Octopus Ventures and GV (previously called Google Ventures) led the round for the London-based startup of the same name, with Speedinvest and individual investors participating, including Soleio Cuervo, an early Facebook designer who has a track record when it comes to social engagement: he was part of the team that designed Facebook’s “like” button.