The Cambridge and Coventry based startup has emerged from stealth to advance its simulation platform for electric vehicles.
"We’re extremely excited to be entering this next phase of our business journey. At Monumo, we are driven by a desire to create a sustainable future and we know that the EV market is a crucial entry point for our technology. By partnering with OEMs and tier one engineering companies, our unique combination of simulation, ML, AI and motor design ability can facilitate genuine near-term impact in the EV industry. These incredible results from our motor simulations are just the start as we look to create genuine system level optimisation for the first time. Naturally we’re excited about the company’s next phase of growth."
The financing will support the commercial rollout of synthetic affinity reagents and team expansion.
"Securing funding for a novel reagents company in today's investment landscape demonstrates clear confidence in MIP Discovery's technology and renewed commercial strategy. Our proprietary modeling approach to developing synthetic antibody alternatives has already been successful for diagnostic applications, and we have already seen very encouraging traction for our expertise in the cell and gene therapy space."
The financing round was led by LAUNCHub Ventures and Kadmos Capital to fund the company's shift towards the diagnostics market.
"We are thrilled to have the support of LAUNCHub Ventures and Kadmos Capital, who share our vision for a healthier future. This funding round marks a significant milestone for GlycanAge, and we are excited to continue our journey towards transforming healthcare and empowering individuals to take control of their well-being."
The oversubscribed round was backed by existing and new strategic investors to fund US expansion and generative AI development.
"This successful financial raise allows us to increase the size of our in-house development team by recruiting new talent who will focus on building Proteus’s generative AI. This will further help our clients optimise their project performance. In addition, the raise will support our growth into Australia and our planned entry into the United States later in 2024."
The seed round was led by Pracuj Ventures to fund product development and expansion into Poland and Latin America.
"Pracuj Ventures reaffirmed their commitment to HR automation and tech trends. At PeopleForce, we are proud to be part of their investment portfolio and eager to advance development, delivering the best HR platform for our customers."
