Like so many British rock groups before them, Ikara Colt formed from a collection of art students at a Whitechapel university. The foursome had a mutual love of music and began performing around the area. Named after a fictional racehorse, the band sent various demos to record labels, but had little success. It wasn't until a performancee at Dublin Castle that a label representative, Steve Lamaq, was impressed by Ikara Colt. Another crucial point was an appearance on John Peel's radio program. Signed to Fantastic Plastic Records, Ikara Colt recorded its first single, "Sink Venice," in late 2001. This was followed by a second single release, "Rudd." In 2002, the band released its debut album Chat and Business. Ikara Colt have performed at famous British rock festivals such as Glastonbury and Reading. The group has performed with the Parkinsons, among others, and has been compared to Wire, Monochrome, and Sonic Youth. In an interview with BBC 1, lead vocalist Paul Resende said "If one person cites Ikara Colt as an influence in the Musicians Wanted section of NME then what I've done has been worthwhile." ~ Jason MacNeil, All Music Guide