Deal net: 27 March – 7 April 2017
Posted on 07 April, 2017 by Thierry Heles, editor
The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.
Reactec, a Scotland-based spinout of Edinburgh University that has developed personal monitoring equipment to protect workers from injuries caused by power tools, has collected £700,000 ($875,000) in funding from the Scottish Investment Bank, the investment arm of state-owned development agency Scottish Enterprise and Archangels, which led the round, as well as Reactec employees, according to the Scotsman. The money will go towards further product development and the recruitment of four sales and engineering staff.
UK-based event planning company Poptop has attracted £120,000 in capital led by the Finance for Business North East Proof of Concept Fund, managed by Northstar Ventures, and a contribution from an angel investor, according to the Chronicle Live. The cash will drive recruitment in Poptop’s development and customer service departments.
US government agency National Science Foundation has taken part in a $2.6m seed round for Lightform, a US-based business working on technology that scans complex scenes and turn objects into screens for augmented reality objects. The round also included Lux Capital and Seven Seas Partners as well as assorted angel investors.
Elasmogen, a UK-based developer of treatments for diseases such as macular degeneration, has received £1.2m in funding to support the further development of its therapies from the Scottish Investment Bank and Deepbridge Capital, with UK government-owned innovation agency Innovate UK awarding a grant, according to the Scotsman. Elasmogen is a spinout of Aberdeen University.
Ireland-based online food ordering service Flipdish has secured an undisclosed sum from Irish government-owned export credit agency Enterprise Ireland and Growing Capital, according to FTT. The money will support an accelerated expansion in the UK.
Oriano Solar, an India-based turnkey services provider for solar plants and rooftop projects, has received Rs200m ($3m) in series A funding from the Samridhi Fund, owned by the private investment arm of the Small Industries Development Bank of India, according to the Economic Times. The investment is a mixture of debt and debenture. SIDBI Ventures is considering a further $1.5m capital injection.
Fonds de solidarité FTQ, the investment arm of the Quebec labour body, has put C$3m ($2.2m) into Canada-based urban agriculture facilities developer Lufa Farms to help it launch its third rooftop greenhouse. The company is planning additional facilities in cities across Canada and the US.
BDC Capital, the investment division of the Business Development Bank of Canada, has injected C$1m into Novarc Technologies, a Canada-based manufacturer of collaborative robotic systems that can be used for pipe welding. The round was led by Seaspan ULC and will go towards scaling commercialisation efforts and expanding the sales and marketing teams as well as support continued R&D activities.
Land Trader, a UK-based online marketplace to sell and buy land, has obtained a total of £250,000 in funding, with £130,000 coming from the Finance for Business North East Proof of Concept Fund and the remainder provided by an angel investor, according to BDaily.
Belgian government-owned federal holding and investment firm SFPI-FPIM and Sambrinvest have backed a €2.5m ($2.7m) funding round for Pluriomics, a Netherlands and Belgium-based biotech company focused on human cardiovascular stem cell technology. The funding will be used to accelerate growth, develop next-generation assays and expand the company’s capabilities in drug discovery and high throughput screening.
The London Co-Investment Fund, backed by the Mayor of London, has agreed to invest in UK-based traffic and pedestrian data startup Vivacity Labs as part of a £1.3m funding round. Data capture software provider Tracsis led the transaction, which also included Downing Ventures EIS, Tracsis has agreed to conditionally inject an additional £300,000.
Nigera-based schools management app provider VeriCampus has raised €57,000 in capital from Bpifrance, the public investment bank of France, in order to expand into France and across francophone Africa, according to Disrupt Africa. The company’s app offers features that include sending announcements to faculty, students and parents, as well as the ability for teachers to post assignments and materials, while students can use to find scholarships and grants.
UK-based architecture firm Sadler Brown has received a six-figure sum from the Finance for Business North East Growth Fund, managed by NEL Fund Managers, to address business development opportunities, according to NEConnected. Sadler Brown is the result of a series of mergers, based on an original architecture practice launched in 1999.
Memberoo, a UK-based smart shopping app developer, collected £280,000 on Wednesday from Finance Wales, the investment arm of the Welsh government, through the Wales Technology Seed Fund, and Thorium Technology Investors to commercialise its app. The company’s product enables users to collect loyalty points in shops and cafés through a single app, rather than having to carry dozens of paper cards in their wallet. The money will drive recruitment as Memberoo prepares for a market launch.
Finance Wales has also supported a £800,000 equity round for Amplyfi, a UK-based artificial intelligence software developer. Assorted angel investors took part in the funding round. The company previously raised an undisclosed amount in October 2016 though it has now revealed its total funding stands at £1.2m.
UK-based educational games developer WordPlay has raised £245,000 from investors including the Finance for Business North East Proof of Concept Fund, which provided £100,000, according to Insider Media. The cash will support a launch of the company’s platform, which has secured a large-scale trial in Harbin China and has attracted the interest of the Foreign Affairs Department and Department of Education.
Scotland-based MGB Biopharma, which is working on a treatment for treatment of Clostridium difficile, has secured £920,000 in a round led by Archangels with participation from the Scottish Investment Bank, Barwell and Tri Capital, the Scotsman reported yesterday. The cash injection, which boosts MGB’s total funding to £7m, will support phase 2 clinical trials.
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