The investment concludes the company's Series A round and was backed by Octopus Ventures and Seraphim Capital.
"We’ve been talking about the potential of drones to radically transform all sorts of industries for a long time now, as the number of applications is huge, but for it to be viable, we need a system that can manage drones and, eventually, other types of unmanned air traffic at scale."
The financing round was led by private investors alongside contributions from the UK government.
"In the recycling industry, we are beginning to see how impactful advanced plastics recycling can be for food contact packaging. Greenback is helping the world’s major consumer goods companies meet their ambitious targets to reduce the virgin plastic content in their packaging, without compromising its quality and availability. By creating additional local collection, sorting and recycling jobs, we are also contributing to many of the UN’s Sustainable Development Goals. The completed round of funding from our private investors and the UK government will enable us to accelerate our programme of lighthouse projects that demonstrate shelf-to-shelf circularity of packaging."
— Philippe von Stauffenberg, Founder and Chief Executive Officer
Silicon Valley Bank and Scottish Enterprise have backed TravelNest to support staycation growth and product development.
"We are excited about the year ahead. The changing dynamics of travel play to our advantage and present a huge opportunity for TravelNest and our customers. Industry data shows that people are opting for holiday rentals over hotels, and there is also a marked shift in travel behaviour with more domestic travel and a preference for accommodation in rural rather than urban settings."