Sesame Bankhall Group and Aviva have backed the technology start-up to scale its team and expand its market reach.
"After undertaking a comprehensive 12-month review of the market, we concluded that we could no longer ignore the new competitive threats circling around our profession and we had to act. Working with Aviva Ventures, we saw an opportunity to turn the threat posed by new disruptive technology on its head. Acre will bring the latest technology know-how, and that coupled with our distribution expertise will help advisers and their clients reap the benefits."
The York-based e-commerce personalisation software platform has raised £750k in its second investment from NPIF, Mercia Equity Finance within the past year.
"We are extremely excited to receive the next round of funding. Our advanced ecommerce personalisation solution is developing at a fast rate and our clients are experiencing fantastic results with increase in online revenue of 26%. This investment reflects not only the confidence in our company growth but also the unique service we are providing within the Artificial Intelligence field. Our plans to advance our AI platform and extend our marketing reach globally will help facilitate and expedite this success."
Intel Capital led the Series A round with backing from Lauder Partners and Wargaming Group to support recruitment and product development.
"Audiences around the world are increasingly hungry for the richest and most graphically complex content to be streamed instantly. The current approach of deploying GPUs in the cloud to deliver compressed video, whether for playing games or any other high-fidelity application, is eye-wateringly expensive and just does not scale. It’s why cloud gaming remains the hardest of streaming problems to solve; anyone can stream games, but the business of streaming is broken."
The financing values the synthetic biology business at £30.5m post-money.
"This significant investment round will enable Oxford Genetics to further secure its market-leading position in the expanding fields of CRISPR, gene therapy and antibody engineering. Through our continued investment in automation and optimising our commercialisation strategy, we aim to maximise shareholder value and exceed our ambitious growth targets. Throughout our journey, Mercia’s investment model has been pivotal to Oxford Genetics’ current success. The ability to leverage capital and continued support from Mercia via seed stage through to later investment rounds has enabled us to attract excellent syndicate investors onto our share register. We are excited to welcome Canaccord Genuity onto our share register alongside Invesco Asset Management and look forward to working with all of our investors to grow the business over the coming years."
