Cornelis Networks, Inc., a provider of purpose-built interconnects focused on high performance computing (HPC), high performance data analytics (HPDA), and artificial intelligence (AI) has closed a $20 million Series-A funding round, led by Downing Ventures and joined by Intel Capital and Chestnut Street Ventures. Cornelis Networks is an independent company spun out from Intel’s Omni-Path Architecture Business.  

Palatine Private Equity has completed the maiden investment from its fourth buyout fund (Fund IV) with the acquisition of a majority shareholding in NRG Fleet Services, a fast-growing provider of specialist services to the commercial vehicle sector.

Headquartered in Skelmersdale, Lancashire, and operating 10 national technical centres, NRG has annual revenues of £90m and employs 280 people. It comprises two divisions, Riverside Truck Rental and Direct Tyre Management.

Scale-up FinTech TotallyMoney, which is backed by Elliott Advisors and Scottish Equity Partners, following a £29 million investment in January 2019, has launched a new and exclusive app-only feature to help their three million customers gain a greater understanding of their borrowing behaviours and make better financial decisions. 

Huboo, an e-commerce fulfilment and storage company, has rasied a further £14m investment as the pandemic triggers a rapid increase in online shopping.  The Series A funding sees European VC Stride and Hearst Ventures join previous investors Maersk Growth, Episode 1, Ada Ventures and True Capital and takes the total raised to £18 million.

CCC Holdings, a holding company based in Italy focused on the Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) industry, has raised €18 million from Italian Energy Efficiency Fund II.

Lumenisity® Limited, which has developed ground-breaking fibre optic and cabling technology, has closed a £7.5 million funding round

Global digital consultancy Appnovation has received £6.8M in follow-on equity financing from a partnership between UK-based BGF, the Canadian Business Growth Fund (CBGF) and Export Development Canada (EDC). 

Tech Nation, the growth platform for tech companies, has appointed four new Directors joining the Board, including the Audit Committee and Remuneration Committee Chairs.

Annette Wilson, Eric Collins, Hussein Kanji and Trecilla Lobo join Tech Nation’s Board of Directors to power UK tech scaleups for the Digital Age.

Riskbook Ltd, an independent provider of reinsurance technology, announced today that it had received new investment of £2m to further develop its Lloyd’s-recognised digital placement platform. Through Seed funding from leading private venture capital firms Episode 1 Ventures, MMC Ventures and Seedcamp, Riskbook will maintain its industry independence as it scales to meet the needs of a growing global customer base of cedents, brokers and reinsurers.

Kindred Capital has closed its second seed fund at £81m. Through its ‘Equitable Venture’, the firm gives exceptional seed-stage entrepreneurs co-ownership in the fund that invested in their businesses.

Since its launch in 2015, the firm has now invested in 39 technology companies across Europe and Israel, with ten of those investments coming from the second fund. Kindred has been investing from the second fund over the last 12 months.

The world’s most awarded non-alcoholic spirits company, Lyre’s Non-Alcoholic Spirit Co. has successfully closed a £9m seed round

Panthera Biopartners has completed a Series A funding round with Gresham House Ventures as a major investor. The capital raised will enable Panthera to further build out its network of clinical trial sites across the UK and overseas and increase its team of clinical trial experts in serving both pharma and patients.