CorrosionRADAR – the Mercia-backed company whose technology can detect and predict corrosion in pipelines – has attracted funding from the Middle East’s largest oil and gas company as part of a £2.9m investment round. Saudi Aramco Energy Ventures led the Series A round, with support from the MEIF Proof of Concept & Early Stage Fund, which
Slingshot Simulations, the Mercia-backed company which is a global pioneer in the field of ‘digital twin’ technology, has raised a further £1.5m of investment as it prepares to roll out its system to its first commercial customers. The funding which will help the business to scale its operations, comes from NPIF – Mercia Equity Finance, which
Duke & Dexter (D+D) – the award-winning footwear brand which is backed by Mercia – has appointed David Stern, the former global CEO of Crabtree & Evelyn, as Chair. David, who has over 30 years’ experience in retail and consumer brands and a track record for digital transformation, will help boost the global growth of the London-based company.
A £250,000 loan has helped a Sheffield rehabilitation centre to increase staff numbers by 300 per cent. STEPS was one of the first businesses to secure funding from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund. The loan in 2017 came just after the centre
Slingshot Simulations – the University of Leeds spin-out which is backed by Mercia – has been chosen to lead a government-backed project which will make Yorkshire and Humber a global pioneer in the field of smart cities. The project – one of the largest of its type in the world – will use Slingshot’s ‘digital twin’
An edtech company whose software platform alerts universities to students in need of support has secured a £1m loan to help scale up its operation. The funding, which comes at the height of the shift to online learning, will help Leeds-based Solutionpath to adapt its technology to remote tuition and roll it out to more universities, creating
A Leeds-based healthtech platform has raised £825,000 investment from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, to support its continued growth. The funding will allow hero to further enhance its software platform and develop its marketing strategy. The company helps organisations to deliver tailored
An entrepreneur who aims to transform the way car dealerships operate has raised £250,000 to roll out his new software platform to the industry. Sanj Gidda, who founded the Wayroo platform, secured the investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment
Refract – the Newcastle-based tech company which is backed by Mercia – has been acquired by the US software firm Allego. The deal is the fourth exit this year for Mercia’s EIS funds and represents a 1.8x return on Mercia’s original investment, equivalent to a 20% investment rate of return (IRR). Refract provides sales engagement
Living Map, the digital map and data platform which is backed by Mercia’s EIS funds, has completed an £850,000 funding round led by Mercia and existing investor Committed Capital. The funding will allow the Bath-based company to further enhance its technology and support the continued roll-out of its new service to guide passengers transferring between flights