Reactec, the Edinburgh-based tech company that recently launched its innovative SAFE-DISTANCE device to enable social distancing among workers, has completed a further £700,000 round of fundraising for the ongoing development of its innovative personal monitoring equipment and reporting technology.

The funding round was led by leading business angel investment syndicate, Archangels, with co-funding from Scottish Investment Bank, the investment arm of Scottish Enterprise.  The funding round included £103,000 of investment from Reactec’s board, management and staff. 

Oxford Capital portfolio company, Cambridge-based UltraSoc Technologies Ltd, has signed an agreement to be acquired by Siemens. UltraSoc, a provider of instrumentation and analytics solutions that puts intelligent monitoring, cybersecurity and functional safety capabilities into the core hardware of systems-on-chip (SoC). Siemens will integrate UltraSoc’s technology into the Siemens Xcelerator portfolio as part of Mentor’s Tessent™ product suite.

Nottingham-based Far-UK, a specialist manufacturer of composite material-based products, has signed up to the national SPRINT business support programme. The programme will provide Far-UK with funded access to advanced numerical optimisation expertise from the University of Southampton to support the development of a new range of safer, more lightweight, composite structures for spacecraft.

Velox, the future of front office technology, has secured $2.5 million in strategic funding from ETFS Capital.  The investment will accelerate Velox’s growth plans, focused on further developing the core platform and increasing the firm’s distribution capabilities and client base in New York and London.

London-based VGC Partners is launching its £1m Technology Seed Fund IV, headed by Parminder Basran, which looks to invest in early stage, tech companies which are addressing corporate innovation challenges.

Trojan Energy, an Aberdeen-based green tech start-up, has secured a £4.1 million of seed funding. The funding round includes £1 million investment led by Equity Gap, SIS Ventures, Alba Equity and the Scottish Investment Bank. They also received a further £3.1 million from Innovate UK.

The funding will help Trojan Energy support the roll-out of its on-street flat and flush electric vehicle charging points, which aims to solve the issue for vehicle owners who do not have access to off-street parking.

Middlesbrough-based games developer SockMonkey Studios has secured a £250,000 investment from the Northern Powerhouse Investment Fund (NPIF) to fund the launch of its first original game.

Bubo.AI, a start-up which aims to revolutionise the way companies price their products has raised £650,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, and private investors.

The UK Defense and Security Accelerator (DASA) innovation scheme has awarded a triple-figure contract to Polystream, the Intel-backed deep-tech startup, to develop a prototype deployable ‘plug and play’ synthetic training technology. This highly portable system contains Polystream’s ground-breaking command streaming technology and it can be dropped into any terrain to deliver virtual 3D interactive training to 30 army soldiers, over legacy hardware.

London based cleantech company Powervault has secured an additional £2 million of funding to support its continuing innovation in the vital field of energy storage. This includes a £725,000 growth loan from the Greater London Investment Fund, managed by The FSE Group.  We can’t control when the sun shines or the wind blows – so energy storage is absolutely key to our transition from fossil fuels to renewables. Right now, there are times when wind turbines have to be switched off because more energy is being generated than the grid can cope with. Equally, as a nation we are still firing up fossil fuel powered stations during times of excess demand.

Quotevine helps brokers give SMEs faster access to vital COVID-19 recovery finance - with new Quickstart initiative.

Tech Nation, the growth platform for tech companies and leaders, has launched its new Net Zero growth programme. The programme is designed to support tech companies that are building a greener, cleaner, and more sustainable future, and helping the UK reach its goal of net zero greenhouse gas emissions by 2050.