A furniture company with an 'audition-led' business model has rasied 1.2 million pounds in venture and angel investments.

Swoon Editions, a London-based firm that allows select customers to vote on prototypes to identify the pieces that will appeal to the most consumers, raised 1.2 million pounds from Index Ventures, Octopus Investments, and other angel investors.

The company pre-sells all pieces after holding contests to determine which designs it will produce, resulting in a business model Swoon believes is compelling for both investors and consumers. The company fills its orders with the same furniture makers that produce products for high-end furniture stores, and claims that its process allows consumers to buy high quality furniture for about half normal retail prices for similar items.