The Series A round was led by OTB Ventures and will support international expansion and platform development.
"We are thrilled to have raised our latest level of funding and partnering with great investors as we embark on our exciting next stage of growth. The investment will be put towards improving and expanding our services, both in terms of manufacturing capabilities and geography. Since starting operations in Manchester, Fractory has played a vital role in helping to digitise the UK’s metalworks industry, which we believe will be essential for its survival. We can’t wait to expand our platform to help more manufacturers and markets across the globe."
Experian participates in a £10m Series A round intended to fund credit protection tools for small businesses.
"Managing credit risk is central to lender activity but SME owners typically overlook it. This restricts their growth and jeopardises their survival. While the digitalisation of financial services was on course to deliver SMEs with efficient access to new capital providers, the pandemic highlighted the fragility of their supply chains. As they emerge, their ability to recover and protect capital, while boosting their appeal to the lending community will be crucial. Capital Reports will make an unprecedented and timely contribution to SMEs’ ability to survive, and grow, in the UK within the coming months, in South Africa in Q4 with more countries to follow."
The investment round was led by Ventura Capital and will accelerate international deployment of the company's diagnostic platform.
"The game-changing nature of our innovation has created an extraordinary commercial opportunity within next-generation medical diagnostics, and the global investor community is very excited by the transformative potential of a rapid, gold-standard RT-PCR testing platform that can screen for multiple viruses simultaneously. We are delighted to have completed this successful fund-raise which will allow us to dramatically speed our plans for worldwide availability, particularly in the US, Japan, Europe, and other key territories where interest is extremely high."
Insight Partners led the £8.5m Series A round to support growth and technological advancement at Monolith AI.
"Deriving insight from data for decision-making is a complex but necessary challenge for engineering organisations. Engineers understand the data, they are embedded in the business and have the intuitions necessary to know why to process and model data. Democratising Al, by empowering engineers to be self- sufficient in building and deploying Al solutions, helps engineering organisations drive digital transformation more efficiently than other currently available solutions."
