Mercia provided the pre-seed backing through the North East Venture Fund to support software development and team expansion.
"Cybersecurity is a growing problem for businesses, particularly with the rise in home working, and it is no longer enough to rely on off-the-shelf solutions such as spam filters and firewalls. Big companies regularly stress test their network, but the cost is prohibitive for smaller firms."
The seed round will fund team expansion and technology development ahead of commercial launches in the UK and US.
"Our vision is to enable people with Parkinson’s and other neurodegenerative diseases and movement disorders to live healthier lives. NuRO could give patients and clinicians a much clearer picture of their condition, enabling treatment to be tuned accurately as needed. We’re excited to continue our work with leading hospitals and patient groups and to bring our technology to market."
The investment round was led by Notion Capital with backing from EQT Ventures and various industry angels.
"We’re thrilled to be working with Notion Capital and to have someone of Stephen’s calibre join our board. His experience fits perfectly with our vision to blend the worlds of banking and technology in one powerful platform,"
Maven provided £2m in seed investment to support software development and team expansion at Ideiio.
"Ideiio is an excellent example of a business which can benefit from equity investment through the Northern Powerhouse Investment Fund. It has developed an innovative software solution which is tapping into robust demand from businesses across a variety of sectors and geographies. We believe this investment will enable the business to achieve further scale, including in the large US market. The management team have an impressive range of technical expertise and experience within the identity security space and have a clear strategy for taking the business forward."
The London-based startup secured backing from Samaipata, Nemetschek, Pi Labs and Accel to grow its team and platform.
"This funding, with the clear support of a great investor base, allows us to grow our team, launch our freemium subscription and expand the platform. Our vision is to become the industry standard for construction site communication."