Oxford Innovation EIS Growth Fund has backed the manufacturer of cold corrugation equipment in a follow-on funding round.
"Despite appearances, corrugated board is not easy to make and over the last 50 years there has been little to no innovation in the manufacturing process. With the majority of global goods now being bought online and demand for sustainable packaging increasing, it was time for a revolutionary solution to the current energy and water intensive manufacturing processes. Our cold corrugation process uses 80% less energy, is one tenth of the price, and allows for decentralised, on-demand production that reduces manufacturing costs by up to 30%. This recent investment will allow us to continue the manufacture of our innovative machines and enable more customers to harness the benefits of self-manufacturing their corrugated board more sustainably."
The investment round was backed by private equity and angel investors to support platform expansion.
"I was attracted to the team's infectious energy and enthusiasm and the huge potential for growth for Maison Sport. Leisure activities on holiday are frequently treated as a checkbox or filter on a website, but they are often the purpose of the travel."
The investment was led by Maven Capital Partners to fund international growth and product expansion.
"Sensoteq has developed and launched a market-leading product, giving clients access to previously unobtainable data that is invaluable in ensuring the health and ongoing performance of key production equipment. We have been hugely impressed by the global reach of the company and demand for the technology, and we are aware that customers greatly value and rely upon the technical expertise and support of the entire Sensoteq team. We look forward to working with Idir and Alan to further grow the business."
Quadri Ventures and Second Century Ventures led the investment round to support go-to-market expansion and product development.
"It is a really exciting time for Fyma, and we are delighted to have secured the support of Quadri Ventures, SCV and VeUP to continue our growth journey. Our innovative AI solution saves enormous amounts of time and money for our customers and armed with this investment, technological support and the fantastic strategic network of SCV, we will continue to develop our solutions to deliver valuable, market-leading software for our global client base."
The funding was provided by the North East Venture Fund and managed by Mercia Ventures to support international expansion and product development.
"While it is still early days for the ‘metaverse’, VR and XR technologies have matured significantly and the launch of Apple’s first mixed-reality headset next year is expected to boost awareness and drive global demand. The funding received from Mercia puts Luminous in a strong position to capitalise on that."
