On the back of new quantum algorithm breakthroughs, quantum software company Phasecrafthas closed a record seed round for a quantum computing company in the UK. Its new £3.7m seed funding round is led by VC firm LocalGlobe with Episode1 along with previous investors. Phasecraft previously raised a £750,000 pre-seed round led by UCL Technology Fund with Parkwalk Advisors and London Co-investment Fund and has earned several grants facilitated by InnovateUK. Former Songkick founder and prominent angel investor Ian Hogarth has also joined as board chair for Phasecraft. 

Creator Fund, the university-focused venture capital fund making strides to unearth startup innovation within European universities, is now focussing on its next stage of support for student-led ventures as it announces the close of a new £1.5 million fund.

Wonder, the company revolutionising virtual space, has completed a $11 million seed round led by EQT Ventures, with participation from existing investor BlueYard Capital. Wonder is a video communication tool with over 200,000 monthly users, enabling larger online group gatherings that mirror in-person meetings, such as the ability to chat to people in different groups and chance encounters. The new funding will be used to refine Wonder’s product development, expand its team, and grow its customer base.

MEL Science, a London-based science educational platform, has secured $14 million in Series B funding to support demand for its subscription-based offering. International investors include Mubadala Investment Company, Channel 4 Ventures and other entities from Europe and China.  As a leading EdTech innovator, MEL Science aims to bring science to life through educational kits, combining hands-on experiments with interactive VR simulations and live lessons – created to help students learn in intuitive, engaging ways. Its award-winning products are designed for children aged 5 – 14 and are intended to be used either as an at-home teaching aid or by schools.

Summize, a Manchester-based developer and provider of software for the legal sector, has secured an additional £1m investment in a funding round led by NPIF – Maven Equity Finance.  NPIF - Maven Equity Finance, which is part of the Northern Powerhouse Investment Fund and managed by Maven Capital Partners, originally invested £500,000 in Summize in March 2019.

BGF has made a further substantial investment in the expansion of Yorkshire-headquartered bakery business, Cooplands, as the 135-year-old business looks ahead to its next chapter of growth. 

Three years after BGF’s initial £8.5m investment, the business has grown to more than 165 stores, 12 cafes and 36 sandwich vans. Cooplands has opened seven new stores since March 2020 and plans to roll-out an additional 30 stores a year in locations such as South Yorkshire, as well as expanding further in the current geographical footprint. 

Karakuri, the world-leading food robotics company, is bringing the future of food to life as it lifts the lid to unveil the world’s first automated canteen to make meals, the DK-One.  Karakuri’s robotic system will revolutionise how and what we eat in restaurants, canteens, buffets, hotels and supermarkets as demand for personalised nutrition grows and the industry’s looks for new ways to operate in a post-Covid world. 

A Leicestershire based food safety technology business has secured a £500,000 investment to scale-up operations and boost their ambitious growth plans. Navitas Digital Safety Ltd, which operates out of Phoenix Park in Coalville, has secured the finance from The FSE Group Debt Finance Fund through the Midlands Engine Investment Fund (MEIF). 

Turquoise, the UK merchant bank specialising in energy, environment and efficiency, has invested in 8power for the Low Carbon Innovation Fund 2 (LCIF2). The investment of £450,000 is part of an overall round of £2 million.

Living Map, the digital map and data platform, has completed an £850,000 funding round led by existing investors Committed Capital and Mercia Asset Management.  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 at airports.

Living Map’s software allows companies to locate and track assets or people in real time and, unlike other mapping products, can operate seamlessly across both outdoor and indoor spaces. In particular Living Map is a leader in indoor location services, and its technology offers greater accuracy without the need for expensive additional hardware.

Griff Williams, CIO of the British Innovation Fund, credits investing in early-stage science and technology in fighting the battle against the pandemic

Infogrid, the artificial intelligence technology company that automates facilities management and makes any building smart, has raised $15.5m Series A funding from a combination of UK and US investors. The round was led by Northzone with participation from JLL Spark, Concrete VC, The Venture Collective, Jigsaw VC, a leading global real estate investment group, and a large international asset owner.