BioInnovation Institute (BII), a Novo Nordisk Foundation initiative for incubating and accelerating world-class life science research, has identified its latest cohort. 

A new fund which aims to radicalise SME buy-outs through employee ownership has come out of stealth mode today. Valloop, founded to empower employees and management to buy the companies they work for, has emerged from stealth ready to back small business founders wishing to exit. 

Valloop’s model set to drive investor returns and societal change by unlocking wealth for business owners, employees and their communities in £24 trillion SME asset class.

London may lead the pack when it comes to business start-ups in Britain, but the latest research from Instant Offices reveals the UK’s other major cities are making a significant contribution to entrepreneurialism in the UK.

Last year, an impressive 672,890 new companies launched in the UK. An increase of 8.5% on the previous year and the highest since 2010. With that in mind, Instant Offices analysed population to startup ratio across the UK’s top cities to discover which place has the highest concentration of entrepreneurs.

Updraft, a part lending, part credit report, and part financial planning app designed to tackle escalating consumer borrowing, has secured £16m in funding to help its member’s avoid unnecessary credit card and overdraft charges. The funding arrives in the form of equity and debt, with specialist investment firm Quilam Capital leading on the debt side, and the UK Government’s Future Fund participating via their convertible loan note alongside a group of high-net-worth investors.

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.

EclecticIQ, a global threat intelligence, hunting and response technology provider, has raised €20million ($24 million) in Series-C financing, led by Ace Management, Europe’s leading cyber growth investor.

BVA BDRC has released additional SME Finance Monitor data, covering the period to the end of September 2020. 

The third annual edition of the KPMG Private Debt Fund Survey in collaboration with the Association of the Luxembourg Fund Industry (ALFI) showcases the strong growth momentum of private debt funds domiciled in Luxembourg. It reveals that the sector saw AuM of private debt funds soar by 36.2% compared to last year, bringing total assets under management to a record EUR 108.4 billion. This builds on the 14.5% growth in AuM for private debt funds seen in the 2019 survey.

Three start-up industry experts have joined together to launch Connectd, a new smart-matching platform for start-ups, investors and Non-Executive Directors (NEDs). The matchmaking subscription service enables start-ups to gain immediate access to relevant investors, advisors and experts, and removes any class, race and location bias.