SFC Capital backed the wearable tech start-up to fund product development ahead of a Kickstarter launch.
"We knew getting funding for a consumer hardware start-up was incredibly difficult, but when we placed our modular watch in front of SFC Capital, everything clicked. They assembled the components like LEGO, instantly realising the potential. By the end of the meeting, we had our investment interest."
The Development Bank of Wales provided the loan to support product expansion and new electric vehicle services.
"The UK automotive aftermarket is thriving, but smaller, more local garages can sometimes struggle to keep up with advances in diagnostic technology. Maverick Diagnostics benefits from a highly skilled team who have a passion for sharing their technology and expertise with garages and workshops throughout the UK, enabling them to compete with main dealers. Our support for their business means that they can do more to enable their customers to help car owners with repair, maintenance and service requirements."
The funding round was led by Equity Gap with co-investment from Scottish Enterprise and support from Lifted Ventures.
"Lifted Ventures immediately understood the challenges our product addresses for women and recognized the potential of the market we’re targeting. Their members are more than investors – they bring invaluable networks and skillsets that are often difficult to secure. I’ve been hugely impressed by their enthusiasm, capability, and commitment, especially in encouraging more female investors into equity investing."
The Series B round was led by NetmindAI with backing from WP Health.
"This successful round of funding is a clear validation of the market’s growing appetite for AI-powered hardware solutions. With the support of forward-thinking investors like NetMind.AI, we’re positioned to take our development and innovation in AI-driven hardware to new heights. This milestone not only fuels our ambition but also strengthens our commitment to delivering smarter, more intuitive technologies that transform human-machine interactions globally"
The funding round was led by Parkwalk Advisors with participation from the Finance Durham Fund and NPIF II Maven Equity Finance.
"We are delighted to close out this first phase of our investment round with the support of Parkwalk and Maven. Maven are joining us at what is a very exciting time in our journey as we head towards a new chapter. Having worked with Parkwalk for 6 years, it’s fantastic to carry on our strong relationship as we deliver on our ambitious plans. The growth we have seen in recent years is a testament to our market leading innovation and we can’t wait to use this investment to take the business to the next level."