Mercia Technologies PLC, a Midlands based leader in the funding and commercialisation of technology businesses in the UK, has invested a further £3.5 million in Science Warehouse Ltd ("Science Warehouse") to increase its stake from 45% to 63%.
Established in 2000 as a spinout from the University of Leeds, Science Warehouse delivers a cloud-based procurement, catalogue and spend analysis platform with a highly intuitive user interface, giving the customer control of the purchasing cycle from requisition to payment. It offers a network of over 25,000 suppliers and an online catalogue of over 17 million products and services optimised for e-procurement, ranging from office and scientific supplies to catering and travel.
Its solutions include tools such as product and price comparisons, contract compliance monitoring, and benchmarking, which help organisations control their expenditure and deliver year-on-year bottom-line savings.
With an impressive range of top tier clients, including Russell Group universities across the UK and leading NHS trusts as well as a number of private sector clients, Science Warehouse has a strong platform from which to accelerate its growth.
Mark Payton, Chief Executive of Mercia Technologies PLC, said:
"Science Warehouse is a highly disruptive business with an industry leading platform. We are delighted to continue our support as it looks to expand further within the UK and to scale up for overseas growth.
"We believe there is a significant market opportunity for Science Warehouse's leading platform and this latest investment from Mercia will help to drive expansion and further build on its extensive customer base."
David Hames, Founder and Executive Chairman of Science Warehouse Ltd, said:
"Science Warehouse offers its customers a unique value proposition, combining a best-in-class SaaS solution with data management services, delivering better decision-making and substantial cost savings.
"With full supplier reach, we streamline buyer-supplier interactions and remove inefficiencies from the supply chain.
"There are exciting market opportunities for Science Warehouse both in the UK and overseas. This latest investment from Mercia recognises the considerable potential for us to expand our business in key markets and capitalise on the fast-growing interest in our solutions."