Cambridge Angels and REMUS led the seed round to support international expansion and product development.
"For decades, pest management has been held back by laborious, error-prone manual monitoring. With our technology it is finally possible to change this and help industries around the world to make a step change from reactive to proactive management of pests. This will save billions and massively reduce the amount of pesticide used globally. We’re delighted to have strong support from a wide group of investors who share our vision. This funding will allow us to scale up our commercial operations and continue to address the £320bn global problem of insect pests."
The seed round was led by SFC Capital and will fund the continued development of the company technology.
"Novai’s innovative combination of technology and biomedicine represents the future of preventative care, with the potential to make a massive difference for anyone who might suffer from degenerative diseases in the future. The founders have assembled an extraordinary team of experts and advisors, and we are pleased to be supporting them as they continue to prove the capabilities of the technology and grow the company. We’re excited to see what they achieve next."
Green Angel Syndicate led the investment round to accelerate international expansion and support team growth.
"This €2 million investment will allow us take our technology further into the European market and also enter the exciting North American market. We are planning to action our aggressive hiring plan over the coming months and grow our team significantly. This will initially focus on building our capacity to tackle major water management and sewer pollution issues through the hiring of software engineers, data scientists and drainage engineers, as well as expanding our marketing team to raise awareness of our products"