The funding round was led by Oxford Innovation Finance to support artificial intelligence developments and platform enhancements.
"We’re excited to progress this new phase of growth with backed support from Oxford Innovation Finance. Their experience with scaling technology businesses and access to a high-quality investor network will be invaluable as we deepen our AI capabilities, enhance our platform and expertise, and transform the air cargo charter industry to define the digital future for freight forwarders."
The funding comprises private equity and a state grant to expand research and development operations.
"Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges."
The funding comes from a cohort of sector veterans and entrepreneurs.
"This raise is a strong signal that our mission matters more than ever. The investors backing us have built some of the most successful businesses in iGaming and have experienced first-hand the challenges of regulatory friction."
The UK healthtech firm won the funding as part of the 43North startup competition and the People's Choice Award.
"We are so proud to have received the recent funding from 43North, and to have also been recognised by the Buffalo community for the People's Choice Award."
