QIMA led the pre-seed round, which included participation from four minority investors.
"The past 18 months have shown the vulnerabilities in global supply chains. Whether its climate change, political unrest or COVID-19, supply chain disruptions are increasing in frequency and severity. Enterprises need to ensure resiliency but they’re in a catch 22 situation – cost efficient supply chains are vulnerable ones. The good news is that technology can help without compromising competitiveness’"
The funding round was backed by Mundi Ventures and Eka Ventures.
"We’ve continued to grow strongly throughout the pandemic and that has been attractive for both new and existing investors. Our tech platform means we can grow our customer base rapidly without having to build an army of customer service agents. That said, we’ve got ambitious growth plans, so we’ll be doubling our headcount in the next 12 months to support that."
Frontier Development Capital led a £2m debt investment to support the global rollout of immersive meeting rooms.
"As an ambitious technology company, we have carved out a strong reputation and have already partnered with many of the world’s biggest brands, with many more projects on the way. In the wake of the Covid-19 pandemic, more and more organisations are investigating our technology to find out how it can help them work faster, make better decisions, and bring together teams from around the world."
The Series A round was led by MMC Ventures and will support global expansion and product development.
"Insurers are increasingly embracing digital innovation, but there is still significant opportunity for further optimisation, particularly in the underwriting process. Our customers are already seeing significant benefits in using our technology to transform the traditional underwriting journey, and benefiting from higher conversion rates and improved underwriting outcomes"