The funding initiative was announced by Science Minister Andrew Griffith during a visit to Cerca Magnetics.
"As we steer towards an economy benefitting from quantum, this further £45 million in funding underscores our commitment to support bright UK innovators who are pushing boundaries and seizing the potential of this technology to transform our public services. The UK is already one global leader in quantum and to maintain that position this government will continue to invest in this transformational technology propelling the UK into a new era of technological prowess and economic growth."
LDC has acquired a stake in the Scottish IT services provider, facilitating an exit for BGF.
"Our business has achieved exceptional growth over the last few years. We've continued to invest in our technology and people, and brought a number of exciting, innovative companies into the group to expand the range of services and levels of expertise that we provide to our customers. The team at LDC have a great deal of hands-on experience in helping businesses like ours to grow through acquisition, making them the perfect partner as we expand our presence in Scotland and across the UK."
The investment was backed by Mercia and Greater Manchester Combined Authority to help the firm scale its enterprise client base.
"Around 40 per cent of brands with a B2B-focus have still not adopted ecommerce, largely because of the challenge of transferring their business model online. Many companies who come to us do so on the back of a two-year failed attempt to launch a store fit for their business. Shopblocks offers a solution. The funding will help us attract more ‘enterprise’ clients and support our goal to become a £50m turnover business."
General Atlantic led the £280m growth financing, which will support European expansion and a new manufacturing facility.
"We are delighted to now partner with General Atlantic, who is an incredible investor and shares our long-term vision of developing the category of Fresh pet food across Europe. It is also fantastic to receive further support from our long-standing partner, L Catterton who we’ve been proud to work with for several years now and who also believes in the power of Fresh and that we are only really at the starting line. Most notably we are incredibly excited by what this investment will unlock for our customers (dogs and humans) in the years to come as we are nothing without them."
