Copenhagen-based Forecast has announced new funding to grow its AI-powered project management software company. London-based Crane Venture Partners led the $5.5m funding round with participation from existing investors SEED Capital and Heartcore. With the new investment, Forecast has raised $10m in total funding.

The Management team of Professional Music Technology has completed a Management Buyout of the business, with financing provided by YFM Equity Partners and the founders of the business.

Cervest, the leader in Earth Science AI, has closed a £3.7m investment round to fund the launch of a revolutionary real-time, climate forecasting platform; a platform with the power to help decision makers manage risk, inform policy and one that could even help solve Earth’s most pressing environmental problems. 

Led by deep-tech investor Future Positive Capital, with co-investor Astanor Ventures, the pre-Series A funding round was oversubscribed on its initial £2.5m target and brings the company’s total to more than £4.5m. 

Life has gone full-circle for technology venture investment specialist Mike Bakewell who has joined the Development Bank of Wales.

CorrosionRADAR, a Midlands business that has found a way to detect corrosion and prevent leaks in assets such as pipelines through a network of remote sensors, has completed a £1m funding round from the MEIF Proof of Concept & Early Stage Fund.

A spin-out from Cranfield University, CorrosionRADAR addresses the challenge of how to detect corrosion in pipelines and other assets where the surface is covered by insulation. The firm uses a network of sensors placed on the pipe to continuously monitor its condition and detect problem areas, along with advanced analytics and artificial intelligence to predict where faults are likely to occur. The system allows facilities managers to focus their resources most effectively and helps prevent leaks.

TotallyMoney has announced new growth funding from Silicon Valley Bank that will provide the credit experts with an additional £5 million to accelerate customer acquisition, recruitment, and develop its award-winning and market-leading technology platform.  The latest funding follows a substantial £29 million investment from Scottish Equity Partners (SEP) and Elliott Advisors (UK) Limited (Elliott), announced in December 2018.

BGF, the UK and Ireland’s most active investor in growing businesses, has exited its investment in 3sun Group Ltd, a specialist provider of products and services to the global renewable energy industry. The business has been acquired by Worley Ltd, the Australian-listed supplier of project and asset services for the energy, chemicals and resources sector.  BGF first made its first investment in 3sun Group in 2014 with £10m to support the expansion of its Great Yarmouth base and advance further opportunities in the UK and northern Europe. 3sun Group was BGF’s first investment in the East of England.

SPOKE, the fast-growing direct to consumer menswear brand, has raised £8.5m of new equity capital. The Series B round was led by BGF and supported by existing shareholders Forward Partners, Oxford Capital, and 24 Haymarket.

The new funds will be used to accelerate growth in four core areas: technology, product innovation, brand building and international expansion.

New investment company Impel Healthcare Catalysts has announced its first deal by acquiring a majority stake in pioneering ostomy company Trio Healthcare. 

This is the first major deal for Knutsford-based Impel, which was launched earlier this month by entrepreneurs Richard Anderson and Spencer Kerry – previously part of the management team behind Crawford Healthcare - to be a catalyst for innovation and growth in the healthcare sector.

Engineering design consultancy Hydrock has announced its acquisition of Yorkshire-based MRB Consulting Engineers, as the company further expands its footprint across the UK.  Hydrock is backed by BGF, the UK and Ireland’s most active investor in growing companies, who first invested in September 2018. Since then, Hydrock has seen significant growth, opening a new office in Birmingham and expanding its teams in Manchester, Cardiff and Southampton. BGF has provided follow-on funding to support the acquisition of MRB and to enhance Hydrock’s ongoing strategic development plans.

GP Bullhound has invested $10 million in RavenPack, a leading provider of alternative data and insights for financial institutions. The company’s database, comprising over 19,000 sources spanning over 20 years, is used by financial institutions who subscribe to the platform in order to enhance performance and manage risk. RavenPack will use the proceeds to expand in Asia, as well as to go into other sectors beyond financial services.

Launched by Britbots earlier in 2019, the British Robotics Scale-Up Fund is soon to close, raising funds to accelerate a select set of fast-growing businesses encompassing a wide range of business sectors.